Forex traders, stock traders and traders of other financial instruments consider the MACD indicator to be reliable.The MTF MACD bar indicator shows moving average convergence divergence values for longer or shorter time frames. This gives stock and forex traders, both novice and experienced, the best view of the trend over a longer time frame.
The USDJPY H4MT4 chart above shows the MTF MACD bars, marked with possible buy or sell signals. The chart above shows the MACD signal for the current time frame.
How to use the MTF MACD bars indicator for successful forex trading
When the color bar in the lower section of the indicator changes to yellow-green, technical traders can buy or enter the market. If the color of the color bar in the upper segment turns green, the trader can hold the position.
Technical traders can also sell when they see the tomato-red color bar in the upper segment. If the color of the bar in the lower segment changes to red, the position can be kept.
If the color of the bar changes from YellowGreen to RED, it is best to exit the buy position. If the color changes from TomatoRed to YellowGreen or Red to Red, you should exit a Sell position.
How to use the MTF MACD bar indicator to trade on longer time frames
Trend traders tend to use longer time frames to spot larger trends. The primary trend is the reason why they use longer time frame charts. Entry points are also determined by the lower time frame charts. The indicator can display MACD signals for multiple time frames within the indicator window
The indicator window shows the moving average convergence and divergence values based on the H4 chart, as well as the MACD on the D1 chart. traders can view the daily trend as well as the trend on the H4 chart at the same time.
The trend on the D1 chart shows the direction of the main trend, while the H4 chart shows when to enter the daily trend. This indicator helps trend traders to stay in the direction of the main trend.
This metatrader indicator is a boon for Forex traders who use confirmation signals in a longer time frame. the MTF MACD Bars indicator offers superior signal quality. Trading results will be much better than traditional divergence and moving average convergence indicators. Signals for multiple time frames.