High Probability Alternative Ichimoku Forex Indicator For MT4

The high probability Alternative Ichimoku Metatrader 4 Indicator is a trend indicator that identifies high probability trade entry and exit levels.

The indicator creates numerous valid entries during every trading session.

Some of the feedback we’ve received from users reveal that their probability spiked by 85%-90% by adopting this indicator.

Moreover, it is relatively easy to trade with the Alternative Ichimoku Indicator (refer to the EURCHF H1 chart below).

  • Light pink clouds forms below the candlesticks depicting the start of an uptrend.
  • Light steel blue clouds forms above the candlesticks depicting the start of a downtrend.

Tip: Trading the Moving Average of Oscillator MT4 indicator together with the Alternative Ichimoku Indicator creates a profitable trading strategy.

In this case:

  • A buy trend takes place when the silver histograms of the OsMA indicator break & hover above the zero-horizontal level, while the Alternative Ichimoku Indicator displays a light pink cloud below the price bars.
  • A sell trend takes place when the silver histograms of the OsMA indicator break & hover below the zero-horizontal level, while the Alternative Ichimoku Indicator displays a light steel blue cloud above the price bars.

Download This MT4 Forex Indicator Free

Download the “alternative_ichimoku.ex4” Metatrader 4 indicator

High Probability Alternative Ichimoku Indicator Chart

Below is an example of how the indicator should appear when added onto the Metatrader 4 chart.

Traders are free to adapt this indicator on any forex pair and time frame of their preference.

Finding Buy and Sell Triggers With High Probability Alternative Ichimoku Indicator  

Below is an example of how to buy and sell forex pairs with this technical indicator:

Buy Trigger: Open buy trade order when price opens, closes and trades above the light pink cloud.

Place stop loss below medium-term support level, or use your own stop loss placement method.

Close the buy trade at the instance a light steel blue cloud pops up on the activity chart (bearish trend reversal signal).

Alternatively, exit the buy trade for a fixed take profit target, for example, 60 pips on the 1-hour swing trading chart.

Sell Trigger: Open sell trade order when price opens, closes and trades below the light steel blue cloud.

Place stop loss above medium-term resistance level, or use your own stop loss placement method.

Close the sell trade at the instance a light pink cloud pops up on the activity chart (bullish trend reversal signal).

Alternatively, exit the sell trade for a fixed take profit target, for example, 25 pips on the 5- minute intraday trading chart.

Download This Forex Indicator Now

Download the “alternative_ichimoku.ex4” MT4 indicator

Adjustable Parameters

SSP, SSK.

Usage

The indicator can be used as a stand-alone signals indicator.

It can also be combined with:

  • Trading oscillators (OsMA, Stochastic Oscillator, CCI,….)
  • Trend indicators (ADX, Envelopes, EMA,…)
  • Price action methods and techniques

More Info About This Indicator

Tradable Currency pairs: Any

Trading Platform: MT4

Time frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: trend

Installation

Copy and paste the indicator in the MT4 indicators data folder (click on ‘File > Open Data Folder’).

Right click within the MT4 terminal Navigator window to refresh or restart the terminal and add the indicator to any chart.

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