The Cronex Ichimoku Forex MT4 indicator consists of the following components: Tenkan, Kijun and Senkou.
It’s based on the famous Ichimoku Kinko Hyo technical trend following cloud trading indicator.
Finding a good entry price to go long or short is quite simple with this special version of the Ichimoku Kinko Hyo indicator.
A valid buy signal occurs when the price bar is positioned above all Cronex lines (gray, red, green and orange). The overall trend is bullish.
A valid sell signal occurs when the price bar is positioned below all Cronex lines (gray, red, green and orange). The overall trend is bearish.
The default Cronex Ichimoku indicator values (9, 26, 52) can be fully modified from the inputs tab.
This indicator is doing well for scalping, day trading, swing trading and any other trading instrument that can be traded on Metatrader 4.
Free Download
Download the “cronex-taichi-indicator.mq4” MT4 indicator
Indicator Chart (EUR/USD M15)
The EUR/USD 15-Minute chart below displays the Cronex Ichimoku Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Cronex Ichimoku MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Go long when price crosses and closes above all Cronex Ichimoku indicator lines from below.
Sell Signal: Go short when price crosses and closes below all Cronex Ichimoku indicator lines from above.
Trade Exit: Use your own method of trade exit.
Cronex Ichimoku and Best MT4 Scalper Signals Indicator Strategy for MT4
This strategy combines the trend power of the Cronex Ichimoku indicator with the fast and clean signals of the Best MT4 Scalper Signals.
It is designed for fast intraday moves on the M1 and M5 charts. The Cronex Ichimoku helps confirm if the market is trending up or down.
The Best MT4 Scalper Signals provides the early arrows that point to the start of the move.
This combination is ideal for traders who want simple entries and clear direction during active market sessions.
The strategy works well on major pairs and also on pairs that move with strong momentum.
This keeps the strategy disciplined and avoids bad entries during range periods.
Buy Entry Rules
- The Cronex Ichimoku bands must slope upward.
- A blue buy arrow from the Best MT4 Scalper Signals must appear.
- Enter after the signal candle closes.
- Place a stop loss below the last swing low.
- Take profit at 6 to 12 pips for M1 and 10 to 20 pips for M5.
Sell Entry Rules
- The Cronex Ichimoku bands must slope downward.
- A red sell arrow from the Best MT4 Scalper Signals must appear.
- Enter after the signal candle closes.
- Place a stop loss above the last swing high.
- Take profit at 6 to 12 pips for M1 and 10 to 20 pips for M5.
Advantages
- Clear trend direction from Cronex Ichimoku.
- Fast and simple arrow signals for quick entries.
- Works well in active sessions.
- Low stop loss distance for small risk.
- Easy rules for beginners and experienced traders.
Drawbacks
- Not ideal in slow markets.
- Requires fast execution on M1 and M5.
Case Study 1: EURGBP M5
During the London session, EURGBP showed a steady uptrend.
The Cronex Ichimoku bands sloped upward for several candles.
A blue buy arrow from the Best MT4 Scalper Signals appeared as momentum increased.
The trade was entered at the close of the signal candle at 0.8517.
Stop loss was placed below the recent swing low at 0.8509, which created an 8 pip risk.
Price moved higher and reached 0.8531. The trade closed with a gain of 14 pips.
Case Study 2: AUDCAD M1
Shortly after the New York open, AUDCAD turned bearish.
The Cronex Ichimoku bands shifted downward and a red sell arrow appeared.
The entry was taken at 0.9104 after the signal candle closed.
Stop loss was set above the high at 0.9112 for an 8 pip risk.
Price dropped during a short burst of volatility and reached 0.9093.
The trade was closed with an 11 pip profit.
Strategy Tips
- Focus on pairs with active momentum because the signals work best with steady movement.
- Wait for the candle to close before entering to avoid reacting early to spikes.
- If the Cronex Ichimoku bands flatten, skip the next signal because the market may enter a range.
- Use the M5 chart when spreads widen or when M1 becomes too fast to manage.
- Manage risk carefully on volatile pairs and use smaller position sizes if the market moves fast.
- If a signal appears near yesterday’s high or low, wait for a clear break instead of entering immediately.
- Track the first 20 minutes after the major session opens because the trend often forms during this period.
- Use this strategy only when spreads are tight because wide spreads reduce the performance on M1 and M5 charts.
Download Now
Download the “cronex-taichi-indicator.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Tenkan, Kijun, Senkou) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
