A practical, two‐step synthesis of novel 4‐(substituted bis‐indolyl)methyl)benzo‐15‐crown‐5 has been reported. The strategy employed for the synthesis of the desired molecules involved Duff formylation of benzo‐15‐crown‐5 to get 4‐formyl benzo‐15‐crown‐5 followed by subsequent reactions with substituted indoles in trifluoroacetic acid to yield novel 4‐(substituted bis‐indolyl)methyl)benzo‐15‐crown‐5 in moderate to good yield. One of the reported novel molecule tested for the complexation behavior with various metal cations, such as Li+, Na+, K+, Mg2+ Ca2+, Al3+, Fe2+, Co2+, Ni2+, Cu2+, Zn2+, Cd2+, Sn2+, Ba2+, Hg2+, and Pb2+, showed a visual colorimetric probe for the detection of mercury cations (Hg2+) in an aqueous medium.