Free Forex Indicators (MT4), Trend Following Indicators
MACD Flat Market Detector Indicator for MT4
By Arun Lama
Published On
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.
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.
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.
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.
Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
the MACD flat market detector seems to be a good on but cant get it to work on the higher time frame