The MACD Cross Signal Forex indicator for Metatrader 4 is a short-term buy & sell signals indicator that works well for scalpers and day traders.
The indicator appears in a bottom chart as colored MACD signal lines that provide the actual buy and sell trade entries.
The green dotted lines act as buy and sell trigger lines.
The indicator should work for any Forex pair and time frame.
General Information
- Based on MACD
- Uses buy & sell trigger lines
- Good for scalping and day trading
- Works for any trading instrument
- Does not repaint
- Developed for Metatrader 4
Free Download
Download the kg-macd-line-indicator.ex4 indicator file (MT4)
Indicator Chart Example
The picture below shows the MACD Cross Signal Forex indicator attached to the AUD/CAD 1-hour chart.
How to use this Forex indicator?
This Forex indicator can be used in multiple ways, find an example below:
Buy Signal:
- Go long as soon as the MACD blue signal lines crosses the upper green dotted line upward.
- Place stop loss below short-term support.
Sell Signal:
- Go short as soon as the MACD blue signal lines crosses the lower green dotted line downward.
- Place stop loss above short-term resistance.
How to install the MACD Cross Signal Forex indicator to the Metatrader 4 platform?
- Download the kg-macd-line-indicator.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