The Digital MACD V2 Metatrader 4 Forex indicator is an improved version of the traditional MACD indicator with great signals.
It follows the trend more accurate and some traders achieve more winning trades with it, as compared to the default MACD indicator.
The indicator follows the short and mid-term currency trend. It’s a very popular trading indicator among Forex traders.
Utilize for scalping, day trading and swing trading the currency market.
- A bullish trend occurs when the Digital MACD V2 bars turn back above the 0.00 level from below.
- A bearish trend occurs when the Digital MACD V2 bars turn back below the 0.00 level from above.
- A very popular indicator, often used in Forex strategies and systems.
Feel free to explore the Digital MACD V2 Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (AUD/USD Daily 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 Digital MACD V2 Forex MT4 Indicator
Buy Signal: Go long when the first purple Digital MACD V2 bar turns back above the zero level from below.
Place stop loss 1-3 pips below immediate support, or use your own favorite SL method.
Exit the buy trade when an opposite sell signal occurs (bars turn back below the 0.00 level), or use your own favorite take profit method.
Alternatively, use a fixed profit target to close the buy trade. For instance, 25 pips on the M15 chart.
Sell Signal: Go short when the first purple Digital MACD V2 bar turns back below the zero level from above.
Place stop loss 1-3 pips above immediate resistance, or use your own favorite SL method.
Exit the sell trade when an opposite buy signal occurs (bars turn back above the 0.00 level), or use your own favorite take profit method.
Alternatively, use a fixed profit target to close the sell trade. For instance, 20 pips on the M5 chart.
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Count bars, signal MA period, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.