A device for signaling to an ice fisherman that a fish has taken the bait and a method for utilizing the device are disclosed. The device comprises a trigger pivotally attached to a housing. The trigger is balanced horizontally by a fishing line containing a loop adapted for looping and draping over one end of the trigger and one or more balancing and counterbalancing weights. The tugging of a fish taking the bait on the fishing line pulls the line off the trigger which allows the trigger to tip vertically signaling to the fisherman to take action to raise the fishing line.