Free Forex Indicators (MT4), Trend Following Indicators

BBMACD Indicator

BBMACD Indicator is a combination of BBands and MACD along with a trend defining moving average. This indicator not only signals the market trend but also states the strength level of the trend that helps traders to make their decisions. Moreover, MACD adds a better confluence to its trade signals since it is known as one of the best momentum indicators in the market.

BBMACD Indicator is suitable to trade all sorts of currency pairs available to trade on the MT4 platform. However, this indicator works better when used for scalping tasks thus, good for trading on shorter timeframe charts.

BBMACD Indicator Overview

Install the indicator on your MT4 terminal. Once you’re done, your chart will appear like the following image:

BBMACD Indicator Overview

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BBMACD Indicator Explanation

BBMACD Indicator Explanation
  • BBands: BBands measures the level of volatility of the price movement. The bands get wider means the strength and continuation signal of the current market trend. On the other hand, the bands get narrower means the trend is getting weaker and there is a possible chance for a trend reversal.
  • MACD Bars: MACD is a momentum indicator. It signals the market momentum by plotting MACD bars. Its value turns positive when the momentum is bullish. MACD bars carrying negative value signals for the bearish momentum of the market.
  • Trend66: This indicator signals the market trend using its moving average system. Trend66 moves above the neutral level (zero) means the market is in a bullish trend. Oppositely, it turns negative when the trend is in a bearish condition.

Also Read: Exness Broker Review

BBMACD Indicator: Buy Parameters

BBMACD Indicator Buy Parameters
  • BBands appear in an expanding pattern
  • MACD bars turn positive
  • Trend66 rises above the zero level
  • Buy triggers when the above conditions are done
  • Set stop loss below the current swing-low of the market
  • Exit long/take profit whenever MACD bars turn negative

BBMACD Indicator: Sell Parameters

BBMACD Indicator Sell Parameters
  • BBands appear in a squeezing pattern
  • MACD bars turn negative
  • Trend66 rises below the zero level
  • Sell triggers when the above conditions are done
  • Set stop loss above the current swing-high of the market
  • Exit short/take profit whenever MACD bars turn positive

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
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