As the name suggests, the Ichimoku Kinko Hyo system indicator for MT4 is a simple to use trading system that reveals when it’s time to open buy and sell trades.
The indicator works on multi time frame analysis and displays whether the trend is bullish or bearish in the upper right part of the screen.
It displays the trend in percentage bullish or bearish.
Buy & sell signal:
- A buy trade could be opened when the Ichimoku Kinko Hyo indicator displays at least 80% bullish or higher.
- A sell trade could be opened when the Ichimoku Kinko Hyo indicator displays at least 80% bearish or higher.
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!
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-kinko-hyo-system.ex4 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