How to Add MT4 Ichimoku Kinko Hyo Indicators in MT4 Chart

Step 1: Open MetaTrader 4 Navigator Panel

Open MetaTrader 4 Navigator panel as shown on example below: Go to 'View' menu (click), then choose the 'Navigator' window (click), or From Standard Tool-Bar click 'Navigator' button or press keyboard MetaTrader 4 short cut keys 'Ctrl+N'

On MT4 Navigator window, select "Indicators", by DoubleClick

Ichimoku Kinko Hyo MT4 Indicator Settings in MT4 - How to Use MT4 Ichimoku Kinko Hyo Indicator on MT4

How Do You Use MT4 Ichimoku Kinko Hyo Indicator in MT4?

How to Add Ichimoku Kinko Hyo MetaTrader 4 Indicator

Expand the menu by clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now illustrate a list of MT4 indicators as shown on example below - select the Ichimoku Kinko Hyo indicator from this list of MT4 indicators so that you can add the Ichimoku Kinko Hyo MT4 indicator on MetaTrader 4 chart.

Ichimoku Kinko Hyo MT4 Indicator Settings in MT4 - How to Use MT4 Ichimoku Kinko Hyo Indicator in MetaTrader 4

How Do I Use MetaTrader 4 Ichimoku Kinko Hyo Indicator in MT4?

How Install and Add Custom Ichimoku Kinko Hyo Indicator on MT4?

If the MT4 indicator that you want to add on the MT4 charts is a custom MT4 indicator - for example if the Ichimoku Kinko Hyo indicator that you want to add is a custom MT4 indicator you will need to first add this custom Ichimoku Kinko Hyo MT4 indicator on MetaTrader 4 platform & then compile custom Ichimoku Kinko Hyo technical indicator so that the newly added Ichimoku Kinko Hyo MT4 custom indicator pops up on the list of custom indicators in MT4 platform.

To learn how to add Ichimoku Kinko Hyo indicators on MT4 - how do you add Ichimoku Kinko Hyo indicator window to MT4 software? - how do you add Ichimoku Kinko Hyo custom technical indicator on MT4? - How to add a custom Ichimoku Kinko Hyo custom indicator in MetaTrader 4.

How Do You Use Ichimoku Kinko Hyo MetaTrader 4 Indicator?

Ichimoku Kinko Hyo Indicator

Ichimoku Kinko Hyo MetaTrader 4 Indicator is a Japanese charting technique that was developed by a Japanese newspaper writer - with the pen name of Ichimoku Sanjin.

Ichimoku means 'a glance' or 'one look'
Kinko means 'equilibrium' or 'balance'
Hyo is the Japanese word for "chart"

Thus, Ichimoku Kinko Hyo means, 'a glance at an equilibrium chart'. Ichimoku Kinko Hyo MetaTrader 4 indicator attempts to identify & determine the likely direction of prices & help traders to determine the most suitable time to enter a trade or exit a trade.

How Do I Add MT4 Ichimoku Kinko Hyo Indicator? - How to Use MT4 Ichimoku Kinko Hyo Indicator in MT4

How to Add MT4 Ichimoku Kinko Hyo Indicators in MT4 Chart

Calculation of Ichimoku Kinko Hyo MetaTrader 4 Indicator

Ichimoku Kinko Hyo MetaTrader 4 indicator consists of five lines drawn using the midpoints of previous price highs & price lows. The five lines are calculated as follows:

1) Tenkan-Sen: Conversion Line: Red Line (Highest High + Lowest Low) / 2, for last 9 price periods

2) The Kijun-Sen: Base Line: Blue Line (Highest High + Lowest Low) / 2, for last 26 price periods

3) Chikou Span: Lagging Span: Green Coloured Line Today's close price drawn 26 price periods behind

4) Senkou Span A: Leading Span A = (Tenkan Sen + Kijun Sen) / 2, plotted 26 price periods ahead

5) Senkou Span B: Leading Span B: (Highest High + Lowest Low)--/--2[Highest High + Lowest Low]--/--2, for the past 52 price periods, drawn 26 price periods ahead

Kumo: Cloud: area between Senkou Span A & B

How to Generate Buy and Sell Signals

Bullish Buy Signal - Tenkan-Sen crosses the Kijun-Sen from below.

Bearish Sell Signal - Tenkan-Sen crosses the Kijun-Sen from above.

However, there are different areas of strength for the buy signals & sell signals generated by Ichimoku Kinko Hyo MetaTrader 4 indicator.

How Do I Use MT4 Ichimoku Kinko Hyo Indicator on MetaTrader 4? - How Do I Use MT4 Ichimoku Kinko Hyo Indicator in MT4?

Technical Analysis of MT4 Indicator Ichimoku Kinko Hyo Indicator

Bullish buy FX cross-over signal occurs above the Kumo (clouds),

Very strong buy signal.

Bearish sell Forex cross-over signal occurs below the Kumo (clouds),

Very strong sell signal.

If a bullish crossover or bearish crossover signal takes place within the Kumo (clouds) this signal is considered a medium strength buy signal or medium strength sell signal.

A bullish crossover signal that occurs below the clouds is considered to be a weak buy signal while a bearish crossover signal that occurs above the clouds is considered to be a weak sell signal.

Support & Resistance Areas

Support and resistance levels can be interpreted by presence of Kumo (clouds). The Kumo also can be used to determine the current trend.

If price is above the Kumo - the prevailing trend is said to be upward trend.
If price is below Kumo, the prevailing trend is said to be downwards trend.

The Chikou Span or Lagging Span is also used to determine the strength of the buy signal or the strength of the sell signal.

If the Chikou Span is below the closing price of the last 26 price periods ago and a sell signal is generated and the strength of the trend is to the downside - downwards trend - otherwise the signal is considered to be a weak sell signal.
If there is a bullish buy signal and the Chikou Span is above the price of the last 26 price periods ago - then the strength of the trend is to the upside - upwards trend - otherwise the signal is considered to be a weak buy signal.