A full Ichimoku chart carries five lines and a cloud. The ichimoku line alert indicator keeps two. It draws Tenkan and Kijun only, then watches for price closing through either one. If you never traded the cloud, this is the stripped version.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 4: Tenkan, Kijun, BUY, SELL |
| Alerts | popup |
| Inputs | 7 |
What the Ichimoku Line Alert Indicator draws on the chart
Two lines and a pair of marks on price.
`Tenkan` runs red at width 2.
`Kijun` runs blue beside it.
A lime arrow tags a close upward through a line.
A red arrow tags one downward.
No cloud and no lagging span appear anywhere.
- Tenkan: line, red, width 2
- Kijun: line, blue, width 2
- BUY: arrow, lime, width 2, arrow code 233
- SELL: arrow, red, width 2, arrow code 234
How the Ichimoku Line Alert Indicator calculates its values
Two of the five lines
iIchimoku supplies both. `InpTenkan` `9` and `InpKijun` `26` set their lengths. `InpSenkouB` `52` goes along only because the call demands a third argument.
What the lines are
Neither averages the close. Each takes the midpoint between the highest high and lowest low of its own window, which explains why both step rather than curve.
Crossing price
Two bars decide it. The previous close on one side, the current close on the other. Each line has its own switch, so you can watch one or both.
How to read the signals
Tenkan is the faster of the two.
Kijun at twenty-six bars is the reference line.
Both step flat when the window extremes do not change.
A close through Kijun is the more significant event.
`InpAlertTenkan` and `InpAlertKijun` can be set apart.
The tool watches price against the lines, not line against line.
Alert channels in this build: popup, one message per closed bar.
`InpAlertCross` is the master switch and ships true, with `InpAlertTenkan` and `InpAlertKijun` choosing which line to watch. Messages reach the terminal on a closed bar, and that is the only destination this build offers.
Every Ichimoku Line Alert Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
InpTenkan |
Tenkan-sen period. Faster line window, `9`. | 9 |
InpKijun |
Kijun-sen period. Slower line window, `26`. | 26 |
InpSenkouB |
Senkou Span B (iIchimoku API arg). Passed to the call only, `52`. | 52 |
Display settings
| Setting | What it does | Default |
|---|---|---|
InpArrowOffset |
Arrow offset (points). Points between mark and candle, `8`. | 8 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
InpAlertCross |
Enable alerts on closed bar. Master alert switch, `true`. | on |
InpAlertTenkan |
Alert on Price x Tenkan. Watch price against Tenkan, `true`. | on |
InpAlertKijun |
Alert on Price x Kijun. Watch price against Kijun, `true`. | on |
Settings that fit your chart
Goichi Hosoda designed these lengths for daily bars in a six-day trading week. EURUSD H1 is the reference chart. Crossings come once or twice a day there. On M5 they arrive constantly. On daily bars each one covers a month.
When the Ichimoku Line Alert Indicator fails
Two lines without the cloud lose most of the context.
Both step flat, so price can hug a line for many bars.
A crossing in a range means very little.
The lines use window extremes, so one spike holds them still.
Copy the compiled Ichimoku Line Alert Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Ichimoku Trend Strategy.
Background reading on the method behind the Ichimoku Line Alert Indicator: ICHIMOKU Kinkō Hyō on Wikipedia, Ichimoku Kinko Hyo at BabyPips.
Download the Ichimoku Line Alert Indicator for MT4 and MT5
The zip holds the compiled Ichimoku Line Alert Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
Why is InpSenkouB in the inputs if no cloud is drawn?
Because the iIchimoku call requires all three lengths as arguments even when you only read two of its outputs. Changing it has no effect on anything this build draws or alerts on.
How are Tenkan and Kijun actually calculated?
Each takes the midpoint between the highest high and the lowest low of its own window, rather than averaging closes. That explains why both step flat for stretches instead of curving the way a moving average does.
Why can InpAlertTenkan and InpAlertKijun be set apart?
Because the two lines mean different things. The nine-bar line crosses often and suits a fast chart, while the twenty-six-bar one crosses rarely, and plenty of traders only want to hear about the second.
Does the tool watch Tenkan crossing Kijun?
No. It compares price against each line separately. This build leaves out the classic line-against-line cross entirely, which is worth knowing if that was the signal you expected.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Ichimoku Line Alert Indicator as one input. Always backtest before trading live.
Category: this is part of our Trend collection. Also, truly, browse more Trend for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in ICHIMOKU Kinkō Hyō on Wikipedia.
- Additional market context is at Advance Decline Line at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.