The MACD Rising Falling MT4 indicator is an intelligent EMA based MACD indicator with green and red histogram signals.
This MACD indicator is composed of Fast EMA (12) + Slow EMA (26) + Signal EMA (9).
The indicator settings can be customized directly from the indicator’s input tab.
There are three types of signals:
- Green histogram bars: this is a signal to buy the pair
- Red histogram bars: this is a signal to sell the pair
- Yellow histogram bars: the market is flat or range-bound. Stick with your current position or wait for a green or red histogram bar to popup
This indicator can be useful for any trade style (scalping, day trading, swing trading).
The EUR/USD H1 chart below displays the MACD Rising Falling forex indicator in action.
Basic Trading Signals
Signals from the MACD Rising Falling are easy to interpret and goes as follows:
Buy Signal: Open buy order when a green histogram bar appears on the chart (bullish signal).
Sell Signal: Open sell order when a red histogram bar appears on the chart (bearish signal).
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (FastEma, SlowEma, SignalEMA, Price, ShowOsma) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the macd-chart-points.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)