Ichimoku Cloud Breakout Indicator

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.

Here is a video of how I'm currently using the Ichimoku Cloud Breakout Indicator with my OGT Trend Dashboard indicator

The video outlines:

1) How to identify an established trend
2) 2 ways to enter the established trend

OGT Trend Dashboard indicator thread - https://www.forexfactory.com/showthread.php?t=989415

Hi Zoheb,

This is amazing, thank you so much. It beats the confusion of flipping TF's and it certainly is A+++ for my trend entries.

Regards

I know you released the OGT in MT5. I'm curious if you have Ichimoku Cloud Breakout in MT5 as well?

Hi Zoheb01,

Just want to say you did an incredible job on the ichimoku breakout indicator. However, I don't think it's accurate. I placed a 5M MTF ichimoko indicator on the 1 minute chart and the signals generated were off and some signals didn't appear. Anyways, still a great indicator. By the way, the green and red cloud is the MTF.

Indicator is not loading on chart. Any reason? DLL is also allowed.