MACD Chart Points Indicator
Platform: MT4 Type: Momentum Last update: September 2, 2024The MACD Chart Points is a simple forex gauge showing precise moments of switches between positive and negative MACD readings. These dots can be even used as entries. Nonetheless, this tool should be rather used in combination with other technical analysis indcators – e.g moving averages providing trend direction.
EUR/GPY H1 Example Chart
Supplying it with 100-period EMA
In this approach, traders should only consider bullish positions (blue circle) when candlestick are below EMA, and only bearish positions where they are aligned below it (red point). This should increase the overall success rate.
