Abstract-Orthogonal Frequency Division Multiplexing (OFDM) transmission technique has been considered for the 4G LTE-Advanced system because of its high performance and low complexity. In the new 5G scenario this type of modulation is not properly suited because of the additional requirements for very high spectral efficiency, low latency and low out-of-band (OOB) emissions. Thus, new waveforms have been chosen to replace it and effectively deal with these problems. Particularly, recently proposed multicarrier techniques as the Generalized Frequency Division Multiplexing (GFDM) and the Filter Bank Multicarrier (FBMC) modulations are two of the main candidates techniques for the new 5G standard. As for classical OFDM technique, the channel estimation is a crucial functionality for the all multicarrier approaches. In this paper we generalize a recently proposed method for the computation of the MSE on the time-frequency domain for pilot based channel estimation techniques in multicarrier system. This method permits to determine the most suitable channel estimation algorithm for a given wireless channel as well as to define the suitable pilot density in order to afford a target MSE value for a given SNR level. Hence, in this paper a general design tool for multicarrier systems is proposed.