MACD Trend Candles V3 Wide Indicator
MACD Trend Candles V3 Wide Indicator For MT4 changes candle color according to trend direction and strength using MACD, gives BUY and sell forex trading signals
Description
The MACD trend candles V3 wide indicator changes the candle color based on the MACD signal line and zero line. Moreover, it plots 4 different colors to indicate them and helps forex traders in technical analysis and to create trading strategies. The colors enable the traders to identify the trend strength at a glance.
The indicator is easy to use and works well for new and advanced forex traders. Additionally, it works in all chart time frames including the intraday, daily, weekly and monthly charts. Furthermore, this indicator does not repaint upon candle close.
MACD Trend Candles V3 Wide Indicator For MT4 Trading Signals
The indicator changes the candle color to Green if MACD is moving higher and is above the zero line. Conversely, it changes the color to Blue if the MACD line is moving higher below the zero line. Similarly, the candle color turns orange if the MACD moves lower above the zero line and to red if the MACD moves lower below the zero line.
The trading strategy is based on the color change. Traders should enter the market with a buy trade if the candle changes to green and place a stop loss below the previous swing low. Similarly, traders should place a sell position if a red candle appears.
The indicator does not provide a profit target, so traders should exit the position if the candle color changes and indicates a trend weakness or trend change.
Conclusion
The MACD trend candles V3 wide indicator for MT4 is a best trend indicator for forex trend traders. As a MACD based indicator it helps traders visually identify the trend with ease.
1 2 3 4 5