The MACD Signal Alert Forex indicator for Metatrader 4 is an enhanced buy/sell signals version of the classic MACD indicator.

The indicator pops up on the chart as gray colored bars together with easy to follow red/green colored buy and sell signal lines.

According to the MACD Signal Alert indicator, a green signal line indicates a bullish trend while a red signal line a bearish trend.

The indicator can be used as a standalone tool or can be combined with additional technical indicators.

Free Download

Download the MACD Alert.ex4 indicator file (MT4)

Indicator Chart Example

The picture below shows the MACD Signal Alert indicator attached to the Euro/U.S. Dollar 15-minute chart.

How to trade Forex with the MACD Signal Alert indicator?

The indicator can be used in multiple ways, find a simple trading example below:

Buy Signal:

  • The start of the green MACD line is a bullish signal. Open a buy trade.
  • Place your stop loss below technical support.
  • Exit the buy trade for a fixed take profit target or wait for a sell signal.

Sell Signal:

  • The start of the red MACD line is a bearish signal. Open a sell trade.
  • Place your stop loss above the technical resistance.
  • Exit the sell trade for a fixed take profit target or wait for a buy signal.

How to install the indicator to the Metatrader 4 platform?

  • Download the MACD Alert.ex4 indicator file here and save it to your computer
  • Open your Metatrader 4 platform
  • Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
  • Click on “MQL4” and open the “Indicators” folder
  • Paste the indicator file in this folder
  • Restart Metatrader 4 and you’re ready to start using the indicator

How to edit the indicator?

  • Attach the indicator to any trading chart of your preference
  • Right click in the chart and select “Indicators List” from the drop down menu
  • Select the indicator from the list and click on “Edit”
  • Now you can start editing the indicator (Inputs, Colors and Visualization)
  • Final step, click on the “OK” button to save the new configuration