Fishing rod holder and indicator assembly

A fish bit-indicator assembly adapted for use with an ordinary fishing rod and line comprises a weighted, slack ring device slidably attached to a stretch of the fishing line between guide ferrules of the rod and produces gravity-induced sagging of the line away from the rod in the absence of a fish bite when the rod is in a position tilted from vertical to create a slack section in the line along the rod. The slack ring holds the slack line section between the rod ferrules in tension and functions in response to even minute movement of the bait in any direction during a fish bite to sharply shift in elevation and thereby signal the bite, even when the line between the rod and the bait is swayed due to wind currents or water waves. A fishing tackle mounted rod support is provided for maintaining the rod in a desired tilted position when unattended in order to allow the slack ring to create a slack section in the line of optimum configuration for signaling the existence of a bite.