The Wajdyss Ichimoku indicator for MT4 can be classified as a solid Forex scalper based on the Ichimoku indicator.
In essence, it transforms the classic Ichimoku indicator into a simple-to-use buy & sell scalper signals indicator.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Key Features
- Scalping indicator
- Non-repaint buy/sell arrows
- Beginner friendly
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a rapid trading signals confirmation tool.
Free Download
Download the “wajdyss_Ichimoku_Indicator_V1.mq4” MT4 indicator
Chart Example
The EUR/USD 1-hour chart below shows the Wajdyss Ichimoku scalping indicator in action.
Basic Trading Signals From the Wajdyss Ichimoku Indicator
Signals from the Wajdyss Ichimoku Forex indicator for Metatrader 4 are easy to interpret and work as follows:
BUY:
- A buy signal is given when the green Ichimoku signal arrow gets printed on the chart.
- Place a stop loss below support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- A sell signal is given when the red Ichimoku signal arrow gets printed on the chart.
- Place a stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download Now
Download the “wajdyss_Ichimoku_Indicator_V1.mq4” MT4 indicator
Ichimoku Scalping Strategy with Wajdyss + Sibbet Divergence
This advanced scalping strategy combines the trend-following capabilities of the Wajdyss Ichimoku Forex Scalper Indicator with the volume-based divergence signals from the Sibbet Demand Index Divergence Indicator.
Together, they provide high-probability entries with strong confirmation.
Best Timeframes
This strategy is ideal for M5 to M15 charts. It can be used during high volatility periods in the London and New York sessions.
Recommended Pairs
Focus on major currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD for tight spreads and cleaner setups.
Indicator Setup
- Wajdyss Ichimoku Forex Scalper: Use default scalping parameters. This tool is optimized for faster Kumo and Tenkan/Kijun cross signals.
- Sibbet Demand Index Divergence: Keep default settings, and watch for bullish/bearish divergence to confirm reversals.
Buy Entry Rules
- Wait for a bullish signal from the Wajdyss Ichimoku Scalper (e.g., Tenkan-sen crosses above Kijun-sen and price is above the cloud).
- Confirm the signal with a bullish divergence from the Sibbet Demand Index Divergence Indicator.
- Enter the trade on the next candle after confirmation.
- Set stop loss below the recent swing low or below the Kumo cloud.
- Target 10–20 pips depending on market momentum.
Sell Entry Rules
- Wait for a bearish signal from the Wajdyss Ichimoku Scalper (e.g., Tenkan-sen crosses below Kijun-sen and price is below the cloud).
- Confirm the signal with a bearish divergence on the Sibbet Demand Index.
- Enter the trade as soon as both indicators align.
- Set stop loss above the recent swing high or above the Kumo cloud.
- Target 10–20 pips or exit at the next major support/resistance level.
Risk Management Tips
- Use no more than 1-2% of your account per trade.
- Avoid trading during major news events (NFP, CPI, FOMC, etc.).
- Close partial positions when the price hits a 1:1 risk/reward ratio.
- Only trade when both indicators give a clear signal.
Adjustable Parameters & Settings
Tenkan, Kijun, Senkou, alert
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: Ichimoku
How to install the Wajdyss Ichimoku indicator in Metatrader 4?
- Copy and paste the wajdyss_Ichimoku_Indicator_V1.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
