Forex Ichimoku Trend Scanner MT4 Demo Indicator

Forex Ichimoku Trend Scanner MT4 Demo Indicator:

About the Forex Ichimoku Trend Scanner MT4 Demo Indicator

Ichimoku Trend Scanner is a multi symbol multi timeframe market monitor that helps traders to monitor, and identify potential market trends from one chart.
This panel scans the Ichimoku Kinko Hyo indicator in 28 configurable instruments and 9 timeframes for classic Ichimoku trend signals.

Ichimoku Trend Scanner features:

  • Multi timeframe, multi symbol customizable scan of the Ichimoku indicator.
  • Scan Ichimoku cloud, Tenkan sen(​Conversion Line), Kijun sen(Base Line), Senkou span A, Senkou span B, and Chikou span relative to price, and more.
  • Quick review of signals on the same chart by clicking on signal buttons
  • Easy setup and arrange of symbols in any order with any instrument that your broker provides
  • Popup, email, and phone notification alerts for selected symbols and timeframes

How does it work?

by default, Ichimoku dashboard scans price and cloud (Kumo), if price is above cloud it shows it with “light green” color as an uptrend, when price is below cloud the dashboard cell turns “light red” indicating a possible downtrend. When price is inside the cloud dashboard cell color remains “gray” indicating no trend.

There are 8 additional classic Ichimoku trend filters you can enable/disable in settings, when these conditions met dashboard cell turns “deep green”/”deep red”:

Cloud Direction: Checks current cloud color to see if its direction turned yet or not.

Future Cloud Direction: Checks if future cloud direction matches the price/cloud position.

Tenkan-sen/Kijun-sen Cross: Checks if Tenkan sen crossed Kijun sen in the direction of the trend.

Tenkan, Kijun/Cloud Order: Checks if both Tenkan sen and Kijun sen are above the cloud in an uptrend or below the cloud in a downtrend.

Tenkan-sen/Price Order: Checks if price is above Tenkan sen in uptrend or below Tenkan sen in downtrend.

Kijun-sen/Price Order: Checks if price is above Kijun sen in uptrend or below Kijun sen in downtrend.

Chikou-span/Price Order: Checks if Chikou span is above price in uptrend or below price in downtrend.

Chikou-span/Cloud Order: Checks if Chikou span is above the cloud in uptrend or below the cloud in downtrend.

Dashboard buttons:

By clicking on dashboard signals you can open the symbol and timeframe of the signal on the current chart. You can also choose between 6 information about the signal to show on dashboard buttons:

  1. Cloud Height, based on ATR  value of the symbol and timeframe.
  2. Price to Cloud Distance, based on ATR.
  3. Price to Tenkan-sen Distance, based on ATR. Positive ATR value if price is in order with trend and negative value if price crossed Tenkan in a pullback.
  4. Price to Kijun-sen Distance, based on ATR like above.
  5. RSI Value of RSI indicator.
  6. Stochastic Value of Stochastic indicator.

Note that button info doesn’t work as a signal filter and it’s just additional information.

Other Settings:

  • Template name for new chart: Enter the name of the template you want to apply to charts opened by Open in new chart button.
  • Signal after candle close: If true indicator waits until the close of the candle then checks the signal.
  • Popup Alert: To enable MT4 alert window informing potential trend on a symbol and timeframe.  Select symbols and timeframes that you want to get alert for them by ticking their checkboxes on the panel.
  • Phone Notification: To receive indicator alerts on the cell phone. Enable and fill the MetaTrader push notification settings from the Notifications tab on the MetaTrader options dialog (ctrl+o).
  • Email Alert: To receive indicator alerts via email. Enable and fill the MetaTrader email settings from the Email tab on the MetaTrader options dialog (ctrl+o).
  • Panel Font Size: Change the font size of labels and buttons info of Ichimoku scanner with this.
  • Panel Scale: Choose between 4 scales to adjust the dashboard size to your screen.

Some Notes:

  1. If you want to monitor more than 28 instruments you can load the indicator on another chart and set different symbols for it.
  2. The symbols that you want to add to the dashboard must be visible in the MetaTrader market watch window. The first time you run the indicator or load a new symbol in the dashboard it might take a few seconds to update its data and show signals.

Test results:

Forex Ichimoku Trend Scanner MT4 Demo Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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