How Ichimoku indicator is calculated.
If we collect last 52 bars and combine them to make one candle from it, the high of the combined candle will be highest high of those 52-bars and Low of the combined candle will be lowest low of the last 52-bars. We now have a 52-bar candle. Eg – highest high of the pattern is 1000 and lowest los is 700. Its average price would be 850, that is (high price + low price) divided by 2. This 52-bar average price plotted after 26-bars typically acts as an important support or resistance line In other words, for today, the 52-bar average range of the price bar printed 26-bars...