CURRENT CLOSING PRICE time-shifted backwards (into the past) 26 periods
The chikou span represents one of most unique features; that of time-shifting certain lines backwards or forwards in order to gain a clearer perspective of price action. In the chikou span's case, the current closing price is time-shifted backwards by 26 periods. While the rationale behind this may at first appear confusing, it becomes very clear once we consider that it allows us to quickly see how today's price action compares to the price action of 26 periods ago, which can help determine trend direction.
In addition to providing us with another piece of the "trend puzzle", the chikou span also provides clear levels of , given that it represents prior closing prices. practitioners can thus draw horizontal lines across the points created by the chikou span to see these key levels and utilize them in their analysis and trading decisions