Multi timeframe Ichimoku Assistant MT5

The world of Forex trading benefits greatly from the use of advanced trading software. One of the most notable is the MT5 Ichimoku Assistant, a time-saving Forex tool designed to make Forex market analysis more efficient. This software offers a comprehensive alert and scanning system, capable of examining all timeframes in relation to multiple Ichimoku strategies.

Understanding the Ichimoku Assistant

The Ichimoku Assistant is designed to check the status of five different lines associated with the Ichimoku indicator. These include the Tenkan-sen, Kijun-sen, Senku Span A, Senku Span B, and Chikou Span. The scanner compares these lines to each other, and based on the selected rules, issues alerts. For traders employing the Ichimoku Kinko Hyo strategy, this tool proves to be a significant time-saver.

However, it’s noteworthy that the scanner doesn’t work in the strategy tester. To fully understand its functionality, traders can download the demo version and access a full description of parameters on the blog page.

Exploring the Rules of the Ichimoku Assistant

The Ichimoku Assistant works on 13 different rules, allowing traders to combine them to create any type of Ichimoku strategy for trading. These rules fall into three categories: those that check the cross of two lines, those that examine which line is above or below another, and those that verify the direction of an Ichimoku line.

For instance, in the first category, the system checks for instances such as the Tenkan-sen line crossing up or down the Kijun-sen line (Tenkan/Kijun Cross), or the price crossing the Kijun-sen line upward or downward (Price/Kijun Cross). In the second category, it checks scenarios like whether the Tenkan-sen line is above or below the Kijun-sen line (Tenkan/Kijun Position), or if the price is above or below the Ichimoku cloud (Price/Cloud Position).

The last category checks the direction of an Ichimoku line. This includes whether the Tenkan-sen line is moving up or down (Tenkan Direction), or if the future Ichimoku Cloud is moving up or down (Future Cloud Direction).

Scanner Features

The Ichimoku Assistant comes loaded with an array of features. Users can reverse the rules in the indicator’s setting, allowing for more versatile trading strategies. For example, when the price goes above the cloud, reversing the rule will result in a sell alert instead of a buy alert. The panel can be minimized by selecting the exact timeframes to be shown, and the rules and timeframes for which alerts are to be received can be selected/deselected from the indicator settings and directly from the panel.

Moreover, the scanner settings come with different filters for optimizing rules, therefore enhancing the alerts for your strategy. The panel’s appearance can be fully customized through a full set of parameters.

FAQs

Where can independent testing of the MT5 Ichimoku Assistant be found?

Interested users can watch independent testing of this product on the forexroboteasy.com website. To stay updated on the testing results, users can subscribe to updates.

Can users share their experience of using the MT5 Ichimoku Assistant?

Absolutely. Users are encouraged to share their experiences with using the MT5 Ichimoku Assistant. Experiences may vary, and sharing can provide insights to other traders.

Remember that this review is an independent product review written in a neutral tone, and it does not endorse or promote any product. The goal is to provide an unbiased overview of the MT5 Ichimoku Assistant for informative purposes.