Chikou Span
The Chikou Span is the current closing price shifted 26 periods back, used in Ichimoku to confirm a trend by comparing today's price with past price action.
The Chikou Span (lagging line) is the simplest Ichimoku component: it is the current closing price, plotted 26 periods back on the chart. It computes nothing : it merely shifts price in time. Its value is visual: it lets you compare today's price with the price action of 26 periods ago at a glance, and thus see whether the buyers from back then are in profit or under water.
How to read and use it
In the traditional reading, a “free” Chikou Span (above the candles it overlaps, with no immediate obstacle) confirms an uptrend; below the candles, it confirms a downtrend. When it cuts through past prices, the signal is considered unconfirmed. Many Ichimoku traders only take a position when the Chikou is clear of price. On Screener.Trading charts, the Chikou Span is displayed with the other Ichimoku lines, letting you visually validate the signals your screeners detect before acting.
Think of the Chikou Span as a quick test: “are positions opened 26 periods ago in profit?”. If so, the trend is more likely to be healthy.
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