The Kijun Tenkan indicator for Metatrader 4 is a Forex trading system that works on the crossover of two Kijun Tenkan signal lines.
A bullish trend occurs when the shorter-term Kijun Tenkan signal line crosses the longer-term Kijun Tenkan signal line upward.
A bearish trend occurs when the shorter-term Kijun Tenkan signal line crosses the longer-term Kijun Tenkan signal line downward.
The indicator works for any trade style, currency pair and time frame.
- Crossover Forex system
- Trend-following in nature
- Beginner friendly indicator
- Does not repaint
- Developed for Metatrader 4
Indicator Chart Example
The picture below shows the Kijun Tenkan indicator attached to the EUR/USD daily trading chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
- A buy signal is given when the red Kijun Tenkan line crosses above the blue Kijun Tenkan line from below.
- Place stop loss below the previous swing low price (support).
- A sell signal is given when the red Kijun Tenkan line crosses below the blue Kijun Tenkan line from above.
- Place stop loss above the previous swing high price (resistance).
How to install the Kijun Tenkan Forex indicator to the Metatrader 4 platform?
- Download the KijunTenkan+.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