Ichi Clouds or Ichimoku Clouds are a versatile technical analysis indicator that identifies trends, trend direction, and trend reversals. This indicator is quite complex and relies on different time periods to create the "Clouds." Basically, when the cloud appears above the candles, it means its a down trend (or bearish movements); when the cloud appears below the candles, it means that there is an uptrend (or bullish movements). There is a bit more to it than that, but that's the basic idea of how this indicator works.
More detailed information about this indicator can be found at StockCharts.
Supported Trade Types
Exchange Website to monitor
Currency Pair to monitor for trade signals
(9-day high + 9-day low) / 2
(26-day high + 26-day low) / 2
Senkou Span A
(Tenkan-sen + Kijun-sen) / 2
Senkou Span B
(52-day high + 52-day low) / 2
Close plotted 26 days previous
This indicator is quite useful for periods of volatility on short to mid-term time spans. The settings are quite flexible allowing you to find optimize them for your trading strategy. Be sure to read more about this indicator in order to further understand how it works.
A popular setting for bitcoin is 10 30 60 30. You can backtest using this setting on different time frames.