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.
Free Download
Download the macd-rising-falling.mq4 indicator file (MT4)
Trading Chart
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:
Buy Signal:
- 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.
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
