Free Forex Indicators (MT4), Trend Following Indicators

MACD 3 TF NRP Indicator

MACD 3 TF NRP Indicator is a trend-following indicator which also includes a crossover trend filtering system for a better confirmation of trade signals. It uses a very simple way of demonstrating trade signals so that even a newbie trader can be benefited from using this trend-based forex technical tool.

MACD 3 TF NRP Indicator has been designed for short-term/scalping and intraday trading purposes thus work well on M5 to H1 timeframe charts within the MT4 trading platform. However, this indicator is applicable to trade 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 Overview

MACD 3 TF NRP Indicator: Explanation

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 in order to plot crossover signals which are used to 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

Buy Entry

MACD 3 TF NRP Buy Entry

  • 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 

Sell Entry

MACD 3 TF NRP Sell Entry

  • 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 

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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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