The MACD Rising And Falling Forex indicator for Metatrader 4 is a great buy/sell technical oscillator solely based on the classic MACD indicator.
The indicator appears in a separate chart window as colored histogram bars that appear above and below the zero level.
Trading Forex with this indicator is utterly simple and straightforward.
- Colored histogram bars > 0.00 (bullish trend)
- Colored histogram bars < 0.00 (bearish trend)
For scalpers and day traders, the indicator tends to perform the best during the most volatile trading hours.
The picture below is an example of how the MACD Rising And Falling MT4 indicator looks like when applied to the EUR/USD 1-hour trading chart.
How to buy and sell currency pairs with the MACD Rising And Falling Forex indicator?
The indicator can be used in multiple ways, please find a classic trading example below:
- Open a buy trade when the colored histogram bars turn back above the zero level from below.
- Place your stop loss 2-3 pips below short-term support.
- Exit the buy trade for a risk to reward ratio of at least 1.5 or wait for a sell signal.
- Open a sell trade when the colored histogram bars turn back below the zero level from above.
- Place your stop loss 2-3 pips above short-term resistance.
- Exit the sell trade for a risk to reward ratio of at least 1.5 or wait for a buy signal.
How to I install and run this Forex indicator on Metatrader 4?
- Download the macd-rising-falling.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
- In order to start using it, drag and drop the indicator to the chart