The MACD 3 TF NRP Forex indicator for Metatrader 4 delivers excellent buy and sell MACD signals based on 3 time frames.
From the indicator’s inputs, you can choose the 3 different time frames yourself.
At a glance, the 3 time frames MACD indicator will show you when it’s time to buy and sell currency pairs.
The trend is bullish when the colored MACD bars turn back above the zero level while bearish below.
The indicator never repaints its signals and does not slow down the trading platform.
The picture below is an example of how the MACD 3 TF NRP indicator looks like when applied to the EUR/USD 1-hour trading chart.
How to buy and sell currency pairs with the MACD 3 TF NRP indicator?
The indicator can be used in multiple ways, please find a classic trading example below:
- A bullish signal is given when the MACD histogram bars turn back above the 0.00 level from below. Open a buy trade.
- Place your stop loss below support.
- Exit the buy trade for a fixed take profit target or wait for a sell signal.
- A bearish signal is given when the MACD histogram bars turn back below the 0.00 level from above. Open a sell trade.
- Place your stop loss above resistance.
- Exit the sell trade for a fixed take profit target or wait for a buy signal.
How to I install and run this Forex indicator on Metatrader 4?
- Download the macd-3-tf-nrp-indicator.mq4 indicator file here and save it to your computer
- Open the Metatrader 4 trading platform
- From the top menu, click on “File” to open the drop down menu
- Select the “open data folder” and navigate to the “MQL4” folder
- Then navigate to the “Indicators” folder
- Copy the indicator into the “Indicators” folder
- Close the trading platform and restart it
- The indicator will be automatically installed on MT4
- You will find the installed indicator in the Navigator window
- Drag and drop the indicator to a chart in order to start using it