The MACD Divergence MTF Forex trading system for Metatrader 4 turns MACD divergence price data into an accurate trend reversal system.
The actual trend reversal signals appear in a bottom chart in the form of a colored trend oscillator.
In essence, the trend is considered bullish above the zero level while bearish below.
Strategy Setup & Recommendations
Indicators (MT4) : averages macd-mtf-multi-symbol-alerts-divergence-nmc.mq4 (default settings)
Currency pairs: works on any currency pair + Gold
Time frames: works on any time frame
Trade style: good for scalping, day trading and swing trading
Trading Platform: Metatrader 4
Download the “MACD Divergence MTF Forex system” now
Chart Example (EUR/USD H1)
After you downloaded and installed the MACD Divergence MTF Forex system on the MT4 trading platform, it should look like the image as shown below.
System Buy & Sell Rules:
- Open a long trade as soon as the first blue histogram bar appears in the bottom chart.
- Place stop loss 2-5 pips below support.
- Exit the buy trade at a predetermined price target or wait for an opposite sell trading signal.
- Open a short trade as soon as the first violet histogram bar appears in the bottom chart.
- Place stop loss 2-5 pips above resistance.
- Exit the sell trade at a predetermined price target or wait for an opposite sell trading signal.
How to install this Forex system in Metatrader 4?
First, download the MACD Divergence MTF Forex system here
Then, install the technical indicators as follows:
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the downloaded indicators in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicators to the chart.
Now you are ready to start using this trading system!
About the averages macd-mtf-multi-symbol-alerts-divergence-nmc.mq4 indicator (MT4)
This technical indicator transforms divergences found between price and MACD into and easy to follow buy & sell indicator.
Input variables: Time frame, price, fast period, slow period, signal period, method, divergence, alerts
Feel free to combine this trading system with other technical indicators or with price action.
Explore and experiment with the indicator’s different inputs and settings to create your own personalized strategy setup.