The MACD Crossover Forex Scalper Alert indicator for Metatrader 4 is a great scalping tool to trade the Forex markets on a daily basis.
The indicator is solely based on MACD signals and transforms the classic MACD indicator into powerful buy and sell signals.
The buy and sell signals appear in the main chart screen and should be traded as follows:
- A green colored arrow is a buy signal
- A red colored arrow is a sell signal
For scalping and day trading purposes, the indicator performs the best during the London and U.S. trading sessions.
Free Download
Download the macd-crossover-alert-indicator.ex4 indicator file (MT4)
Trading Chart
The picture below is an example of how the MACD Crossover Forex Scalper Alert indicator looks like when applied to the EUR/USD 15-minute trading chart.
How to buy and sell currency pairs with the MACD Crossover Forex Scalper Alert indicator?
The indicator can be used in multiple ways, please find a classic trading example below:
Buy Signal:
- A buy signal occurs when the green arrow gets printed on the chart.
- Place your stop loss 1-2 pips below short-term support.
- Exit the buy trade for 5-15 pips profit or wait for a sell signal.
Sell Signal:
- A sell signal occurs when the red arrow gets printed on the chart.
- Place your stop loss 1-2 pips above short-term resistance.
- Exit the sell trade for 5-15 pips profit or wait for a buy signal.
How to I install and run this Forex indicator on Metatrader 4?
- Download the macd-crossover-alert-indicator.ex4 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
- In order to start using it, drag and drop the indicator to the chart
