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Ichimoku MTF Alerts

The Ichimoku MTF Alert indicator for MT5 is a technical analysis tool that detects market momentum and the direction of the trend. This indicator can be used to identify potential entry and exit points, as well as to identify trend reversals. Download free!

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Description

The Ichimoku MTF Alert indicator for MT5 is a powerful technical analysis tool developed by Goichi Hosoda, which identifies different market conditions and trading opportunities with precision. It consists of components such as the Tenkan-sen (the conversion line), Kijun-sen (the baseline), Senkou Span A and B, and Kumo (cloud).

The indicator uses the components (Tenken, Kijun, Sumo, and Senkou) to detect the market momentum and identify the trend direction of a financial trading instrument. Buy and sell signals are generated when the lines crossover to the upside or downside. It is an incredible tool for identifying scalping, day, and swing trading opportunities.

Features of the Ichimoku MTF Alert Indicator for MT5

The indicator is a powerful trading tool that analyzes multiple timeframes simultaneously, identifying the market behavior and trend condition across different timeframes. It sends alerts and notifications at various conditions of the Tenken, Kijun, and Kumo lines, which indicates different signals. For example, the indicator suggests a buy signal when the price crosses above the kumo from below, and the Tenken line is above the Kijun line.

Furthermore, the indicator’s parameters allow users to customize them to suit their trading styles or signal preferences. So, traders may adjust the period for calculating the Tenken, Senkou, and Kijun to their strategies. Traders may also set up alerts to be notified when certain trading conditions are met and the channel to receive the signals (e.g. email).

Benefits of Using the Indicator

  • Trend Identification: The indicator provides an in-depth analysis of the market, enabling traders to identify strong trends and trading opportunities across different timeframes with better precision.
  • Alerts on buying and selling opportunities: The indicator also sends alert notifications to traders when certain conditions are met, ensuring that traders do not miss trading opportunities even when they are off the chart.
  • Stand-Alone Indicator: The Ichimoku MTF Alert indicator for MT5 can be used in isolation to identify high-probability trade setups.

Indicator Settings Description

The indicator comes with the following customizable settings:

Tenken Period: Determines the period to calculate the Tenken line.

Kijun period: Determines the period to calculate the Kijun line.

Senkou period: Sets the period for calculating the Senkou span A and Senkou span B lines.

Alerts on: Enables/Disables the alert system of the indicator.

Alerts on leaving Kumo cloud: Enables/Disables alerts when the price leaves the Kumo cloud.

Alerts on tenken and kijun cross: Enables/Disables alerts when the Tenken and Kijun line crosses.

Alerts on price crossing kijun: Enables/Disables alerts when the price crosses the Kijun line.

Alerts on Span A and Span B cross: Enables/Disables alerts when Span A and Span B lines cross.

Alerts message: Enables/Disables alerts via SMS.

Alerts sound: Enables/Disables the alert sounds.

Alerts send email: Enables/Disables alerts via email.

Alerts ts send notification: Enables/Disables alert notification.

Draw Tenken option: Enables/Disables the display of the Tenken line on the chart.

Draw Kijun option: Enables/Disables the display of the Kijun line on the chart.

Draw Kumo cloud option: Enables/Disables the display of the Kumo line on the chart.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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