Homing Dash is an upgrade which allows Shin to charge up an anime-style dashing slash attack. It can be upgraded to the Chain Dash and Triple Chain Dash.
Location
Just after the first boss, Rogue, keep running right a few rooms into the green Hills area.
Chain Dash (Upgrade 1)
Found during the Prologue in the Fall area just behind the boss Guardian.
Triple Chain Dash (Upgrade 2)
Found in the Lake area guarded by the boss Archer. Can only be reached after acquiring the Demon Blade.
Properties
Holding the attack button will make Shin focus, causing a cone to appear in front of him going the direction the player presses on the dpad. Positioning an enemy or a target in the cone and releasing the attack button will cause Shin to teleport-dash to the other side of the enemy/object while slashing it, anime-style. Shin appears at a position relative to the target depending on what direction you are holding, not necessarily the direction of the target from Shin himself. So as an example, if the player is holding right and hits a target above them, they will appear to the right of the target.
Homing dash can be instantly charged by rolling and pressing/holding the attack button during the roll.
It takes a second or two for homing dash to recharge between uses. A well timed roll can give just barely enough time to recharge a second homing dash to reach higher places.
Chain Dash (Upgrade 1)
Allows Shin to string two homing dashes together by pressing the attack button a second time after releasing it for the first homing dash.
Triple Chain Dash (Upgrade 2)
Further increases the number of chain dashes to a total of 3.
Trivia
Chaining multiple homing dashes together with a roll to reach higher places is used in speedruns to skip the Guardian fight. This is known as Guardian Skip.
Chain dash is skipped for low% runs.
Shin can jump while charging a homing dash.