A fish strike signal that can selectively be placed in a storage position, a ready position or a deployed position. The signal has a main body with a storage ledge, a retainer and a pocket. A trigger is provided having a notch for engaging a segment of fishing line and having a kick-out post for deploying a signal. The kick-out post can be held with a pocket in the ready position. Rotation of the trigger caused by a strike forces the post from the pocket and causes the wire of the signal to clear a retainer on the side of the main body. A tension assembly is provided for adjusting the amount of force that is required to rotate the trigger. The post and a ledge holds the signal in place and the tensioner can be used to lock the signal in the storage position.