Forex-MACD-Signals-Indicator
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Forex MACD Signals Indicator
Forex MACD iIndicator is based on the traditional MACD indicator and generates buy and sell arrow signals on the chart.
The indicator plots MACD in a sub window below the main activity chart, green colored bars for bullish price movement and red colored bars bearish price movement.
You can use this indicator as a stand alone or combine it with a trend-following indicator such as a longer period moving average (SMA or EMA type)
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Basic Trading Signals
Signals from the MACD Indicator are easy to interpret and goes as follows:
Buy Trade: Open buy order when MACD crosses back above 0.00 from below (first green bar).
Sell Trade: Open sell order when MACD crosses back below 0.00 from above (first red bar).
Exit Trade: Close trades at an opposite signal, or use your own preferred exit method.
Tip: Use MACD in conjunction with a trend-following indicator.
For example, a simple moving average or exponential moving average.
Only trade in the direction of the trend indicated by the trend-following indicator.
Bullish trend direction? Trade MACD buy signals, avoid sell signals.
Bearish trend direction? Trade MACD sell signals, avoid buy signals.
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