MACD Bars Indicator MT4 is the coolest Forex trading indicator that you may have ever experienced in your trading life. This indicator has been widely famous among scalpers and now ever Forex day traders cause it perfectly matches with their intraday Forex trading strategy.
This indicator suitable to use for any Forex currency pair window and it fits best with intraday charts especially with the lower timeframe charts. Following this amazing Forex indicator is as easy as following the traffic signal. The only thing you need to know the colors and its meanings.
MACD Bars Indicator Overview
This indicator plots the trading signals with a series of colored bars in a separate oscillator window. Price is in a rising pattern with MACD bars turned into green confirms the buy entry signal and bullish trend as well. On the other hand, if the MACD bars turn into red from green and price starts to fall with the bearish thrust then it is interpreted as the sell time at the market. It has been witnessed that MACD Bars Indicator is tremendously successful in Forex scalping trades.
It’s easy look and simplicity of use offers newbie scalpers a great assist for the steady level of success rate and growing up their trading accounts.
MACD Related Indicators: MACD V3 Candles
MACD Bars Indicator: Buy Parameters
- MACD Bars Indicator turns green
- A bullish candle is formed at the same time
- Buy at the break of the respective bullish candle’s high
- Set stop loss below the signaling candle’s low
- Exit the buy entry whenever MACD Bars turn red
MACD Bars Indicator: Sell Parameters
- MACD Bars Indicator turns red
- A bearish candle is formed at the same time
- Sell at the break of the respective bearish candle’s low
- Set stop loss above the signaling candle’s high
- Exit the sell entry whenever MACD Bars turn green