Hey Guys,
Before I go into the indicator, I would like to thank this community for all the support since I launched by YT channel back in 2018. The channel passed the 6k subscribers mark this week.
You know that all my content indicators and EAs is free, but to celebrate the 6k mark, I've also shared the MQL4 source code for my brand new indicator - the OGT Ichimoku Cloud Breakout Indicator.
The standard Ichimoku Indicator is a trend trading indicator that comes standard on the MT4 platform. There are many elements to the Ichimoku Indicator, one of the most popular is the Kumo Cloud. A pair is considered to be trending when price is above or below the cloud.
My indicator provides signals when price breaks out of the Kumo Cloud. It also has a neat input which allows you to only show breakout signals when price is trending on higher time frames (price is above/below the cloud on multiple time frames).
As with any trend indicator, it does give false signals in ranging markets but the multi time frame input helps in reducing the false signals.
The tutorial video below shares more about how the indicator works and a couple of strategies how you can use it with your trading.
I would love for you guys to amend the indicator and make it better as I believe there is potential. It would be great to do videos on different versions.
Thanks again for everything.
Zoheb.
Before I go into the indicator, I would like to thank this community for all the support since I launched by YT channel back in 2018. The channel passed the 6k subscribers mark this week.
You know that all my content indicators and EAs is free, but to celebrate the 6k mark, I've also shared the MQL4 source code for my brand new indicator - the OGT Ichimoku Cloud Breakout Indicator.
The standard Ichimoku Indicator is a trend trading indicator that comes standard on the MT4 platform. There are many elements to the Ichimoku Indicator, one of the most popular is the Kumo Cloud. A pair is considered to be trending when price is above or below the cloud.
My indicator provides signals when price breaks out of the Kumo Cloud. It also has a neat input which allows you to only show breakout signals when price is trending on higher time frames (price is above/below the cloud on multiple time frames).
As with any trend indicator, it does give false signals in ranging markets but the multi time frame input helps in reducing the false signals.
The tutorial video below shares more about how the indicator works and a couple of strategies how you can use it with your trading.
I would love for you guys to amend the indicator and make it better as I believe there is potential. It would be great to do videos on different versions.
Inserted Video
Attached File(s)
OGT Ichimoku Cloud Breakout Indicator.mq4
6 KB
|
3,005 downloads
Thanks again for everything.
Zoheb.
Never stop investing. Never stop improving. Never stop doing something new