Ichimoku Line Alert Indicator for MT5 Download – Free – [TradingFinder]

The Ichimoku Line Alert Indicator is a practical tool in technical analysis that simplifies the charting process based on the structure of the Ichimoku system.

By detecting crossovers between key Ichimoku lines or between prices and these lines, the indicator automatically issues alerts and identifies potential entry or exit points for traders.

Ichimoku Line Alert Indicator Specifications Table

The following table includes the technical specifications of the Ichimoku Line Alert Indicator:

Ichimoku Line Alert Indicator at a Glance

By default, the Ichimoku Line Alert Indicator displays the Kijun line in blue on the chart. Accordingly, users can activate the display of other Ichimoku lines, such as Tenkan, Senkou, and Kumo, via the settings panel.

The functionality of this indicator is rooted in the classical principles of the Ichimoku trading system.

Bullish Trend Conditions

Based on the EUR/USD currency pair chart on the 1-hour timeframe, the Kijun line from the Ichimoku system is visible in blue. As illustrated in the chart, a crossover of price with the Kijun line can be interpreted as a buy entry signal.

In the context of trend-following Ichimoku strategies, this type of crossover is typically a potential sign of the beginning of a bullish move.

Bearish Trend Conditions

The 1-hour chart of Solana cryptocurrency effectively demonstrates the performance of the Ichimoku Line Alert Indicator in a bearish market scenario. As shown in the image, a price break below the Kijun line can be considered a reliable sell signal.

This type of crossover often indicates a weakening of the previous uptrend and the start of selling pressure in the market.

Ichimoku Line Alert Indicator Settings

Configurable parameters in the Ichimoku Line Alert Indicator are listed below:

• Tenkan: Tenkan line calculation period
• Kijun: Kijun line calculation period
• Senkou: Senkou line calculation period
• Alerts: Enable alert
• Message Alert: Enable display of alert messages
• Sound Alert: Enable sound alert
• Email Alert: Enable email alert
• Alert Type: The type of signal to trigger the alert
• Show Tenkan: Display the Tenkan line
• Show Kijun: Display the Kijun line
• Show Senkou: Display the Senkou line
• Show Kumo: Display the Kumo cloud

Conclusion

Using the Ichimoku Line Alert Indicator, traders can stay informed about key trading signals without the need for constant chart monitoring.

Although this trading tool is applicable across all timeframes, its trend following nature makes it particularly effective in higher timeframes such as 4-hour, daily, or weekly charts.