MACD Candles V3 Forex Indicator is very easy to apply in real time trading and at the same time it is a reliable tool for passionate traders. The charts are exactly the same as ordinary candlestick chart but only the colors in it make the difference. In an ordinary chart there are only two colors that represent bullish and bearish candle but in MACD candles V3 system there are three colors. Green bars represent bullish market conditions, black bars represent the sideways market scenario, and the red bars represent the bearish market pressure.
On the very top of the main chart window you can see the different time frames with the prevailing market direction on them. You can see nine time frames and market whereabouts just having a glance while using this system.
You can use MACD candles V3 in different ways. The best way to trade using MACD candles v3 is by looking for such pairs which show common direction in the majority of the time frames. For example, if you see a pair which shows uptrend in H1, H4, D1 and W1, you have higher chances of winning when you long that currency. You can use this technique to trade with MACD candles V3 too.
When MACD Candles V3 is correctly loaded on your trading platform your chart should look like this:
You might have already guessed that our trading decisions will be purely made on the basis of the colors of the candles and you just need to know about the three colors; green, black, and red. Also, remember to open a position in such pairs which shows common signal (buy/sell) in majority of the timeframe.
Buying Conditions using MACD candles V3 system.
Look for the pairs in which market is up in majority of the time frames.
Decide which time frame to trade and make sure that the market is up trending in that time frame and other near time frames (one step higher/lower).
Make sure that the candle bar is green.
Place your stop just below the recent swing low.
Take your profit when the colors of the candles change to black or red.
Selling Conditions Using MACD candles V3 System.
Look for the pairs in which market is down in majority of the time frames.
Decide which time frame to trade and make sure that the market is down trending in that time frame and other near time frames (one step higher/lower).
Make sure that the candle bar is red.
Place your stop just above the recent swing high.
Take your profit when the colors of the candles change to black or green.
Forex Indicators Download – Instructions
MACD Candles V3 Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
MACD Candles V3 Forex Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
Do the same with template file (.tpl), if there is any, at File/Open Data Folder/templates.
How to install MACD Candles V3 Forex Indicator.mq4?
- Download MACD Candles V3 Forex Indicator.mq4
- Copy MACD Candles V3 Forex Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on MACD Candles V3 Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator MACD Candles V3 Forex Indicator.mq4 is available on your Chart
How to remove MACD Candles V3 Forex Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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Click The Link Below To Download:
MACD Candles V3