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Home Collection Stochastic Ichimoku Trend Magic
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Ichimoku Trend Magic

Get trend reversal signals with the Ichimoku Trend Magic indicator. Moreover, it shows the strength of a trend, allowing you to pick the best trends to trade in.

Indicator Type

Non-repaint

Trading Style

Intraday

Timeframe

H1-H4

,

M15-M30

Platform

MT4

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  • Description
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  • How to Install
Description

Features of the Ichimoku Trend Magic Indicator

The Ichimoku Trend Magic indicator uses part of the traditional Ichimoku Kinko Hyo to show the trend in the market. The indicator picks only the Kijun and Tenkan lines with different periods to show the direction of the price. It is easy to read and can be used by both new and experienced traders on any timeframe.

The Tenkan line is red, while the Kijun line is magenta. When the red line crosses below the magenta one, it shows a bearish reversal. Meanwhile, when the red line crosses above the magenta line, it indicates a bullish reversal.

The slope of these lines and the distance between them also determine the strength of the trend. When the distance between the lines is big, it shows a sharp, volatile move. On the other hand, when the distance is small, it shows a shallow trend that could go on for long. Finally, when the lines keep crossing each other, it signals a ranging market.

How the Indicator Can Benefit You

The Ichimoku Trend Magic Indicator is a valuable tool for trend traders. It signals reversals in the price that create great trading opportunities. For a buy signal, wait for the red line to cross above the magenta line. Enter a buy order with your stop loss below the previous low and appropriate targets.

For a sell signal, wait for the red line to cross below the magenta line. Place your sell order with a stop loss above the previous high and appropriate targets.

Indicator Setting Description

Tenkan: This input allows you to change the period of the turning line.

Kijun: This input allows you to change the period of the base line.

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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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