MACD 3 TF NRP Indicator is a trend-following indicator that also includes a crossover trend filtering system for a better confirmation of trade signals. It uses a straightforward way of demonstrating trade signals so that even a newbie trader can benefit from this trend-based forex technical tool.
MACD 3 TF NRP Indicator has been designed for short-term/scalping and intraday trading purposes and thus works well on M5 to H1 timeframe charts within the MT4 trading platform. However, this indicator is applicable to trading all kinds of forex currency pair charts around the financial markets.
MACD 3 TF NRP Indicator Overview
After the installation of the indicator at the MT4 terminal, your trading chart will appear like the following image
MACD 3 TF NRP Indicator: Explanation
The indicator uses the MACD bars for detecting the market trends. The bars turn positive if the trend is bullish and turns negative to signal the bearish trend of the market. It also applies MTF Fast & Slow to plot crossover signals that filter the signals from the MACD bars. MTF Fast moves above the MTF Slow means the validity of going long. Oppositely, MTF Slow moves above the MTF Fast represents the opportunity of going short at the market price.
Also Read: Vulkan Profit Indicator
MACD 3 TF NRP: Trading Rules
- MACD Bars turn positive
- MTF Fast moves above MTF Slow
- Buy triggers when both of the above conditions are met at the same time
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever MTF Fast moves below the MTF Slow
- MACD Bars turn negative
- MTF Fast moves below MTF Slow
- Sell triggers when both of the above conditions are met at the same time
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever MTF Fast moves above the MTF Slow