Free Forex Indicators (MT4), Trend Following Indicators

MACD Flat Market Detector Indicator for MT4

The MACD Flat Market Detector represents an advanced momentum indicator developed for MT4 platforms.

Its developer has added a flat market channel that determines the on-trend and sidelined market conditions. So, if you want to avoid trading in a choppy market and wish to move on within the right trend directions, then the MACD Flat Market Detector could be the right choice.

MACD Flat Market Detector Indicator for MT4 Overview

This indicator only works on 1-minute timeframe. So, you can apply it for forex scalping and day trading only. As a short-term trading tool, it may signal changes in momentum frequently. But if you filter the MACD bar signals with flat market channels, you’ll get a much better result.

MACD Flat Market Detector overview

Most importantly, this indicator only works for the top 5 major forex currency pairs: EURUSD, GPUSD, AUDUSD, USDCAD, and USDJPY.

MACD Flat Market Detector for MT4 Explanation

The blue bars above the neutral level (0) suggest the market is in bullish momentum. On the other hand, the red bars beneath the neutral level signal a bearish momentum.

MACD Flat Market Detector explanation

However, the bars remaining inside the flat market channel indicate a sidelined situation of the price. When the bars break above the higher line, we consider it as a bullish trend confirmation. Conversely, the bears need to break below the lower channel level to confirm a valid bearish trend.

In any case, the MACD bars changing their color means the market has started losing the strength of its current momentum. So, you can consider a weak trend signal as a hint for trade exits.

Also Read: Exness Review – Is it The Best Forex Broker?

MACD Flat Market Detector for MT4: Buy Conditions

MACD Flat Market Detector buy signal
  • The indicator value is positive.
  • The MACD bar turns blue and breaks the higher flat market line
  • Exit long when the bar closes below the higher channel level

MACD Flat Market Detector for MT4: Sell Conditions

MACD Flat Market Detector sell signal
  • The indicator shows a negative value.
  • The MACD bars becomes red and breaks the lower flat market channel
  • Exit short when the bar closes above the lower channel

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I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which 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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