The Ichimoku Forex Trend Monitor for Metatrader 4 displays the Ichimoku buy and sell trends for all time frames in a dashboard on the activity chart.
The indicator appears in the main MT4 chart and displays trend arrows for the M1, M5, M15, M30, H1, H4, D1, W1 and MN time frames.
Trade idea:
- Buy the currency pair whenever all arrows are colored green (strongly bullish).
- Sell the currency pair whenever all arrows are colored red (strongly bearish).
The Ichimoku Forex Trend Monitor indicator can be used for both entry and exit signals or mixed together with your own favorite trading strategy for improved performance.
The indicator works equally well on all assets (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..) and shows promising results if used correctly.
Free Download:
Download the “Ichimoku Trend Monitor.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The example chart below displays the Ichimoku Forex Trend Monitor mt4 indicator in action on the trading chart.
Trading Tips:
Utilize your own favorite trade entry, stop loss and take profit method to trade with the Ichimoku Forex Trend Monitor indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend
Repaint? No.
Download Now:
Download the “Ichimoku Trend Monitor.mq4” indicator for Metatrader 4
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the Ichimoku Trend Monitor.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.