Ichimoku Cloud Signals Metatrader 4 Forex Indicator
The Ichimoku Cloud Signals MT4 forex indicator is a buy sell cloud signals indicator based on Ichimoku and two simple moving averages.
Mixing all trading indicators together provide us with a buy sell trading cloud indicator for Metatrader 4.
Price above the cloud is considered to be bullish and traders look for buy trade opportunities.
Conversely, price below the cloud is considered to be bearish and traders now look for sell trade opportunities.
The indicator can be used for any pair and timeframe. Feel free to experiment with the indicator settings.
The USD/JPY M30 chart below displays the Ichimoku Cloud Signals forex indicator in action.
Basic Trading Signals
Signals from the Ichimoku Cloud Signals forex indicator are easy to interpret and goes as follows:
Buy Signal: Go long when the Ichimoku Cloud Signals indicator draws the start of a blue colored cloud (bullish).
Sell Signal: Go long when the Ichimoku Cloud Signals indicator draws the start of a magenta colored cloud (bearish).
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Tenkan, Kijun, Senkou, SMA_Period1, SMA_Period2) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the dat-cloud-indicator.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)