Cronex Taichi Metatrader 4 Forex Indicator
The Cronex Taichi Metatrader 4 indicator is an enhanced variant of the Ichimoku Kinko Hyo trading system.
The indicator was essentially programmed to formalize signals from the traditional Ichimoku trading system.
Primarily, the indicator is expected to spot prospective trends or its absence in the markets.
The Cronex Taichi indicator shares a lot of similarities with the Ichimoku Kinko Hyo when added to the activity chart with the exception of the cloud.
- The default values for the Tenkan, Kiun and Senkou is preconfigured to the following values; 9, 26 & 52, which represents the Tenkan, Kijun and Senkou respectively.
- The presence of multiple components makes the identification of trend much easier.
- With the Cronex Taichi Indicator the identification of probable flat and trending market sessions becomes less intense.
- There are four lines within the Cronex Taichi Indicator that it uses to wrap around price; the gray colored line or Taichi indicator, the orange colored line or TaichiFor, the red and green lines, both representing the Signal line 1 and Signal line 2 respectively.
Feel free to explore the Cronex Taichi Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Cronex Taichi Forex Indicator Chart (EUR/NZD M30 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Cronex Taichi MT4 Indicator
Buy Signal: Go long when the orange line crosses below the gray line of the Cronex Taichi Indicator in a bottom up manner.
When the light sea green CCI MT4 indicator gets printed above the zero-horizontal level, it is a buy signal confirmation.
Sell Signal: Go short when the orange line crosses above the gray line of the Cronex Taichi Indicator in a top downward fashion.
When the light sea green CCI MT4 indicator gets printed below the zero-horizontal level, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is running, the orange and gray lines of the Cronex Taichi indicator intersects. Else, exit the buy trade when the light sea green line of the CCI indicator dips below zero signal level.
Exit sell trade: Close all sell orders if while a bearish trend is running, the orange and gray lines of the Cronex Taichi indicator intersects. Else, exit the sell trade when the light sea green line of the CCI indicator surges above zero signal level.
Tips: The Cronex Taichi MT4 indicator gives traders quick insights on which trades can be placed with sniper accuracy.
At a quick glance, one gets a detailed picture of the overall market scenario.
In most cases, when price is trading above/below the lines, price is believed to be bullish/bearish respectively.
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Tenkan, kijun, senkou.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.