The Ichimoku MTF Alerts Forex indicator for MT4 uses multiple time frame analysis to plot the buy/sell Ichimoku cloud on the chart.
The indicator identifies the overall trend and then draws the Ichimoku cloud on the chart that can be used for buy and sell trade entries and exits.
Buy & sell signal:
- Open a buy trade when the candlestick closes above the trend cloud from below (bullish).
- Open a sell trade when the candlestick closes below the trend cloud from above (bearish).
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 MTF Alerts indicator to your Metatrader 4 platform?
- Download the ichimoku-mtf-alerts-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