Ichimoku Average Forex Indicator For MT4

The Ichimoku Average indicator for Metatrader 4 works similar to the classic Ichimoku indicator and represents a complete trend trading system.

The indicator appears as a trend cloud along with a simple moving averages crossover system on the main chart.

The Ichimoku Average indicator shows you when the trend is bullish or bearish and when it’s time to open a buy or sell trade in the direction of the overall trend.

Buy & sell signal:

  • Open a buy trade when the candlesticks are positioned above the trend cloud and the red moving average crosses back above the blue moving average.
  • Open a sell trade when the candlesticks are positioned below the trend cloud and the red moving average crosses back below the blue moving average.

From our testings, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.

It can be used as a standalone technical indicator or it can be combined with other technical indicators and price action techniques.

Try first on a demo account until you fully understand how this indicator works!

Free Download

Download the ichimoku-average-indicator.mq4 indicator file (MT4)

Indicator Chart Example

The picture above shows the indicator attached to the Euro / U.S. Dollar chart.

How to install the Ichimoku Average indicator to your Metatrader 4 platform?

  • Download the ichimoku-average-indicator.mq4 indicator file here and save it to your computer
  • Open your Metatrader 4 platform
  • Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
  • Click on “MQL4” and open the “Indicators” folder
  • Paste the indicator file in this folder
  • Restart Metatrader 4 and you’re ready to start using the indicator

How to edit the indicator?

  • Attach the indicator to any trading chart of your preference
  • Right click in the chart and select “Indicators List” from the drop down menu
  • Select the indicator from the list and click on “Edit”
  • Now you can start editing the indicator (Inputs, Colors and Visualization)
  • Final step, click on the “OK” button to save the new configuration