MACD Crossover Alert Indicator is an unbelievably simple but one of the best Forex indicators among the crossover signaling tools. This indicator has proven that one chart with a couple of signaling arrows can be enough to make money from the Forex market consistently and made Forex trading simpler than ever for both scalpers and intraday traders.
This indicator is applicable at any Forex currency pair window and fits well with all sorts of timeframe charts. For its simplicity of use and easy signal readings, it can be a very special treat for newbie traders.
MACD Crossover Alert Indicator Overview
Once you are done with the installation of the MACD Crossover Alert Indicator at your Forex MT4 platform, your trading chart will appear as the following image:
MACD Crossover Alert Indicator doesn’t use another oscillator window to plot the signals. You don’t have to monitor the MACD window to spot the possible crossover signals.
All you have to do is to spot up/downward arrows around the price bar at the main chart window. An upward arrow signals the bullish crossover signal and a downward arrow signals the bearish crossover.
Your job is to pull the trigger according to the arrow direction and exit the trade whenever an opposite arrow is plotted on the chart. This indicator can be added to any Forex trend following strategy and any trend-based indicator can be added with this astonishing tool to turn it into a better trade filter.
MACD Based System: Fx Tipu MACD Oscillator
MACD Crossover Alert Indicator: Buy Parameters
- The price bar closes as a bullish bar at the bottom area of the chart
- MACD Crossover Alert Indicator plots an upward arrow
- Trigger the buy entry at the break of the respective bullish bar’s high
- Set stop loss limit below the current swing low area
- Exit long/take profit whenever MACD Crossover Alert Indicator plots a downward arrow at the top of the chart
MACD Crossover Alert Indicator: Sell Parameters
- The price bar closes as a bearish bar at the top of the chart
- MACD Crossover Alert Indicator plots a downward arrow
- Trigger the sell entry at the break of the respective bearish bar’s low
- Set stop loss limit above the current swing high area
- Exit short/take profit whenever MACD Crossover Alert Indicator plots an upward arrow at the bottom area of the chart