# Free Ichimoku Signal Indicator



## sinner (25 November 2010)

Hi guys,

I have written an Ichimoku indicator for MT4, which prints a buy/sell dot on the following signals:

* Kumo breakout
* TS/KS cross
* KS cross

(if you don't know the signals, they are listed here, along with an overview of Ichimoku http://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page)

It only shows dots for those signals defined as "strong", and ignores medium or weak signals. This means Chikou span must be up (i.e. Momentum(26) > 0) and in the case of the cross signals, the low or high of the bar must be above or below the kumo.

You could easily modify the code to provide an alert if you wanted, but the reason I coded was so interested traders could quickly go back and visually backtest any of these signals.

Sometimes a visual backtest will show something the print of your simulated equity curve won't.

The indicator is provided free of charge completely open source, for discussion and learning purposes. Also posted on forexfactory.


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