The Double MACD Metatrader 4 Forex indicator is composed of 2 exponential moving averages and a simple moving average.
The Double MACD Forex indicator plots additional signal lines on the chart for extra trade confirmation.
Although it looks similar to the traditional MACD, its signals are slightly different and more powerful.
The Double MACD Forex indicator for MT4 is able to serve as a standalone trend indicator and is profitable for many traders.
Tip: If used together with price action strategies, it is sure to beat its standalone performance record.
Just load the Sniper Double MACD indicator onto the Metatrader 4 chart and start trading with it in minutes.
- Green Double MACD bars represent an uptrend.
- Red Double MACD bars represent a downtrend.
- Works for any MT4 instrument (Forex, Indices, Stocks,..)
- Works for scalping, day trading and swing trading.
Feel free to explore the Double MACD indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (AUD/JPY H1 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 Double MACD MT4 Forex Indicator
Buy Signal: Open a buy trade when the red Double MACD bars turn back to green color above the 0.00 level.
Set your stop loss below support, or use your own favorite stop loss method.
Take your profit when the green bars turn back to red (sell signal), or use your own favorite take profit method.
Alternatively, close the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal: Open a sell trade when the green Double MACD bars turn back to red color below the 0.00 level.
Set your stop loss above resistance, or use your own favorite stop loss method.
Take your profit when the red bars turn back to green (buy signal), or use your own favorite take profit method.
Alternatively, close the sell trade for a reward/risk ratio of 1.5 or better.
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Fast EMA, slow EMA, signal SMA, 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: MACD
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.