Ichimoku Metatrader 4 Forex Indicator

The Ichimoku MT4 forex indicator is a very popular trend following indicator often used when trading the forex market for profits.

The indicator consists of the following components: Tenkan-sen, Kijun-sen and Senkou Span B.

Ichimoku can also be used to define areas of support and resistance.

In simple words, the trend is considered to be bullish above the Ichimoku cloud and considered to be bearish below the Ichimoku cloud.

It can be used for scalping, day trading, swing trading and position trading on all timeframe’s.

For instance, scalpers could apply this indicator to the 1 or 5-minute charts, day traders to the 5 or 15-minute charts and swing traders to the 30 or 1-hour charts.

Free Download

Download the “Ichimoku.mq4” MT4 indicator

Example Chart

The USD/JPY Daily chart below shows the Ichimoku forex indicator in action.

Basic Trading Signals

The most simplest form of trading the Ichimoku indicator goes as follows:

Buy Trade: Open buy trade when the price crosses and closes above the Ichimoku cloud from below.

Sell Trade: Open sell trade when the price crosses and closes below the Ichimoku cloud from above.

Download

Download the “Ichimoku.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern indicator

Customization options: Variable (Tenkan-sen, Kijun-sen, Senkou Span B) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Trend following

Installation

Copy and paste the Ichimoku.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)

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