Better MACD Alert Indicator
MT4Also Available for MT5The MACD Alert indicator for MT4 is an advanced version of the traditional MACD optimized to define the market direction and also detects trend reversal.
Description
The Better MACD Alert indicator for MetaTrader 4 is an advanced version of the MACD optimzed to define the market direction and also detects trend reversals. It comes with some slight modification of the regular MACD on the MT4 platform, which makes it efficient in interpreting the market with more accuracy.
This variation of the the indicator was built with extra line that is more sensitive to changes in the market. The line changes between green and red to signal a bullish and bearish trend, respectively.
Furthermore, the crossover of both lines to the upside/downside is used to depict the changes in the trend direction of the market. However, it is recommended to take a buy/sell signal only when the indicator’s lines cross above/below the zero-line level.
Moreover, the indicator is also recommended to be used in synergy with price action/other technical trading tools as a confluence before making any trade decision. Besides, i is also ideal for both novice/intermediate and advanced forex traders.
How to Trade With the Better MACD Alert Indicator
The above image depicts the action of the indicator on the EURUSD currency pair in the M30 timeframe. It illustrates how a buy signal was identified using the synergy of the indicator and price action.
The image shows that the indicator’s lines have crossed over to the upside, which suggests a potential trend reversal. Besides, the dynamic line also changed to green and has also crossed above the zero line level. Finally, the price retested the demand zone and closed with a bullish bar, signaling the buy entry.
Conclusion
The Better MACD Alert indicator for MT4 is an advanced version of the traditional MACD, optimized to deliver buy/sell signals and entry. Finally, it is free to download.
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