In a two-way pre-bite tension adjustment and fishing line release and fish bite alarm apparatus including a non-electrically conductive body housing a battery and an electrically energized auditory-visual alarm. A two-way pre-bite fishing line tensioning mechanism utilizing a frictional tensioning screw together with the leverage gained by a thin elongated flat rotatable truncated U-shaped tensioning lever-alarm activation member to control an electrical switch member to release the fishing line and emit an auditory-visual signal upon a fish taking bait attached to the fishing line.