The BB MACD Metatrader 4 indicator is a modified MACD (Moving Average Convergence Divergence) technical tool that can be deployed in spotting changing trends and gauging the strength of the trend in view.
The indicator pulls up within a sub-window on the activity chart.
It is comprised a dotted colored line that oscillates around a center line.
The indicator is also a great tool for spotting turning points in the market.
- Just to get a better view of the happenings in the market, plus a good understanding of price action, it is critical for market players to pay more attention to the yellow dot on the BB MACD Indicator (considering that it depicts probable reversals).
- Generally speaking, price action is said to be bullish when the dotted line of the BB MACD Indicator turns lime, while hovering above the center line.
- On the other hand, a likely bearish price action is in place when the dotted line of the BB MACD Indicator turns magenta, while roaming below the center line.
Feel free to explore the Custom BB MACD Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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BB MACD Forex Indicator Chart (AUD/NZD M30 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The BB MACD MT4 Indicator
Buy Signal: Go long when the BB MACD indicator prints lime dots that are positioned somewhat above the zero-center level.
When the Ichimoku Kinko Hyo MT4 indicator prints sandy brown cloud below the price bars, it is a buy signal confirmation.
Sell Signal: Go short when the BB MACD indicator prints magenta dots that are positioned fairly below the zero-center level.
When the Ichimoku Kinko Hyo MT4 indicator prints thistle cloud above the price bars, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the BB MACD indicator prints a magenta dot. Else, the Ichimoku Kinko Hyo indicator prints a thistle cloud.
Exit sell trade: Close all sell orders if while a bearish trend is on course, the BB MACD indicator prints a lime dot. Else, the Ichimoku Kinko Hyo indicator prints a sandy brown cloud.
Tips: The BB MACD indicator is an oscillator that allows traders initiate profitable entries/exits.
Although, it can function as a standalone tool but when used in combination with other technical studies like the Ichimoku Kinko Hyo, trading results becomes largely profitable.
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Fast Len, slow len, length, bars count, stdv, buff, alerts on, alert message box, alert sound, alert sound file, alerts email, alerts after bar close.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.