BB MACD Forex System Metatrader 4 Indicator
The BB MACD Forex MT4 indicator combines Bollinger Bands together with the MACD indicator.
It’s a powerful combination that forms a complete Forex trading system.
The BB MACD indicator is the only tool you need to trade currency pairs successfully.
The indicator appears in a separate MT4 trade window to keep the main chart clean.
Deploy for scalping, day trading and swing trading.
- The slope of the Bollinger Bands displays the underlying trend.
- The green and magenta bullets give you the trade entry signal.
- It’s a buy on dips, sell on rallies forex system.
- Low stop losses required. Less risk.
Read below how to open buy and sell trades with the BB MACD Forex Metatrader 4 indicator.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
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BB MACD Forex System Indicator Chart
Here’s an example (EUR/CAD M5 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The BB MACD Forex System Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate a buy trade on the condition that the Bollinger Bands are sloping up (underlying trend bullish) and the BB MACD indicator paints a green bullet on the chart.
Place your initial stop loss 1 pip below short-term support, or use your own favorite SL method.
Close the buy trade for a reward/risk ratio of 1.5 or higher, or use your own take profit strategy.
Alternatively, close the buy trade for a fixed profit target, for example +15 pips on the M1 scalping chart.
Sell Trigger: Initiate a sell trade on the condition that the Bollinger Bands are sloping down (underlying trend bearish) and the BB MACD indicator paints a magenta bullet on the chart.
Place your initial stop loss 1 pip above short-term resistance, or use your own favorite SL method.
Close the sell trade for a reward/risk ratio of 1.5 or higher, or use your own take profit strategy.
Alternatively, close the sell trade for a fixed profit target, for example +25 pips on the M5 intraday chart.
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Fast length, slow length, length, color, width, style.
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with:
- Trading oscillators (Stochastic, RSI,…)
- Trend indicators (Moving Average, ADMI, Parabolic SAR,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Bollinger Bands With MACD
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.