Introduction to the Alternative Ichimoku Indicator
The Alternative Ichimoku indicator is a variation of the standard Ichimoku Kinko Kyo indicator.
The same trading rules as with standard Ichimoku apply here too.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed directly on the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Alternative Ichimoku indicator in MT4?
Copy and paste the Alternative_Ichimoku.ex4 or Alternative_Ichimoku.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Alternative Ichimoku indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Alternative Ichimoku Indicator Free Download
To download the Alternative Ichimoku Indicator for Metatrader 4 (MT4) for free just click the button below: