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By avanoup Vanilia Updated On 2022-03-21
The MACD Color Indicator is an improved version of one of the top Forex momentum indicators in the world, the "MACD." It functions essentially identically to the previous version, but the visibility and signal demonstration have improved considerably, and the new version also creates signals with less latency.
The MACD Color Indicator may be used in any Forex currency pair window and with any period chart. Furthermore, the ease of signal reading and ease of usage have made it increasingly enticing to rookie momentum traders.
Overview of the MACD Color Indicator
After you've installed the MACD Color Indicator on your Forex MT4 terminal, your trading chart should look like this:
Buy Parameters
MACD MA turns positive
MACD bars turn green and hold its levels above the MA level
A bullish bar forms at the same time
Buy triggers at the break of the bullish bar’s high
Set stop loss below the respective signaling bar’s low
Exit long/take profit whenever MACD bars start to close below the MA level with a falling pattern
MACD MA turns negative
MACD bars turn red and hold its levels below the MA level
A bearish bar forms at the same time
Sell triggers at the break of the bearish bar’s low
Set stop loss above the respective signaling bar’s high
Exit short/take profit whenever MACD bars start to close above the MA level with a rising pattern
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