Ichimoku Multi Time Frame (MTF) Alerts Indicator

Ichimoku Multi Time Frame (MTF) Alerts Indicator

Ichimoku indicator is a suitable tool for accurate buy and sell signals. Perfect trend reversal detector.

Ichimoku Multi Time Frame Alerts is quite a unique trading tool due to its numerous data points. It has more colors and lines than standard indicators. It is similar to conventional Ichimoku indicators but allows you to see the status of the indicator across multiple frames in one glance.

The indicator has its origin in Japan and consists of five elements: Tenkan Sen, Kijun-sen, Senkun span A & Senkun Span B, Kumo and Chikou span. Well, memorizing these names leave alone understanding their functionality is quite a taxing task.

But you do not have to go to the depth of their formation (unless you are interested). You simply need to understand what to look for in buy and sell signals. The Ichimoku MTF Alerts Indicator is one of the best and can boost your trading results significantly if you pay keen attention. You can use it to trade any instrument in any time frame.

How to Use the Ichimoku Multi Time Frame Alerts Indicator
Let explore the five elements to understand how the indicator works.

⦁ Tenkan Sen is the average of the highest high and lowest low set at nine periods. It is known as the fast line and is colored lime. It shows whether the market is trending up or down.

⦁ Kijun Sen is the average of highest high and highest low for the last 26 periods. It is the same as Tenkan but slower hence the name lagging or slow line. The magenta-colored line acts as a baseline suitable for trailing loss.

⦁ Chikou span – This shows the current closing price pushed 26 days back. It is dark orange.

⦁ Kumo – The shaded space between Senkou A and B and the most important element. It shows the current and likely future resistance and support levels.

Buy Signal Ichimoku Multi Time Frame Alerts Indicator
The Ichimoku MTF Alerts Indicator gives a buy signal when the Tenkan is in an uptrend. The price should be above the Kijun Sen, while the Chikou span should cross the price from the bottom up.

Sell Signal Ichimoku Multi Time Frame Alerts Indicator
Sell signal occurs when the Tenkan is in a downtrend, and the price is below the Kijun Sen. The Chikou span also crosses the price from top-down.

If the price is above the Kumo cloud, spans A and B act as support levels. The lines form resistance levels if the price is below the cloud. The two lines act as resistance and support levels if the price is within the cloud.

The Ichimoku MTF Alerts Indicator shows price movement for the Euro against the US dollar. The Tenka Sen (green line) is in an uptrend signifying a bullish market. The price is also above the Kijun Sen (magenta line). Notice how the dark orange has pierced the price from below and is moving upwards. The Kumo Cloud bordered by the green and red lines acts as resistance levels. In this case, the indicator points to a buy signal suitable for entering a long position.

Conclusion
Ichimoku is one of the accurate forex trading indicators. The Ichimoku MTF Alerts Indicator has been enhanced with a multi-timeframe feature to enable you to view the general market behavior in a single time frame. Ichimoku MTF alerts are one of the indicators that you can use as a stand-alone tool. You should give it a try.