The Wheel Treasure that is one of the seven treasures of a Wheel Turning Monarch (cakkavatti). The Cakkaratana is the Cakkavatti’s chief symbol of office; on its appearance before him, he sprinkles it with water and asks it to travel to the various quarters of the world, winning them for him. This the Cakkaratana does, carrying with it through the air the Cakkavatti with his fourfold army. Wherever the Cakkaratana halts, all the chiefs of that quarter acclaim the Cakkavatti as their overlord and declare their allegiance to him. Having thus traversed the four quarters of the earth, it returns to the Cakkavatti’s capital, and remains fixed as an ornament on the open terrace in front of his inner apartments. DN.ii.173f. MN.iii.173ff.
When a Cakkavatti dies or leaves the world, the Cakkaratana disappears from the sight of men for seven days; it gives warning of a Cakkavatti’s impending death by slipping from its place some time before the event. DN.iii.59f. When his successor has lived righteously for seven days, it reappears. DN.iii.64