Chikou Support and Resistance by TheSocialCryptoClub

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Name: Chikou Supports and Resistances

Category: Indicator

Timeframe: Any Timeframe.

Description: Chikou Support and Resistance is an indicator which allows to represent on the chart the price structures identified by the cusps formed by the Ichimoku Kinko Hyo Chikou, Chikou is the line chart of close price projected in the past as per Kijun periods.

Suggested usage: Use on any timeframe. It is possible to calculate cusp only in a certain period and in a different time frame, and select those calculated by specific lines.

Technical Details: Internally it uses an Array to store the levels of when the Chikou bounces using the Zig-Zag indicator. At the last bar it prints the various lines on the screen.

Credits:
- Techniques has been explained by Corrado Rondelli in "Strategie di trading con l’indicatore Ichimoku Kinko Hyo"
- It is based on the Zig-Zag indicator of TradingView to calculate the Zig-Zag.