Introduction to the MACD Crossover Arrows & Alert Indicator
The MACD Crossover Arrows & Alert Indicator plots a buy or sell arrow on the chart whenever the FastMA crosses SlowMA of the Moving Average Convergence/Divergence. In essence, it’s a simplified version of the traditional MACD indicator, but it provides much clearer signals. Additionally, the gauge gives alerts in a pop-up window.
The MACD Crossover Arrows & Alert Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
The MACD Crossover Arrows & Alert Indicator should be rather used in conjunction with other technical analysis tools. However, during sideway market conditions, it can work pretty well even as a standalone gauge.
Check these charts of the MACD Crossover Arrows & Alert Indicator in action.
These are available settings.
How to set up the MACD Crossover Arrows & Alert indicator in MetaTrader (MT4)?
Download the MACD Crossover Arrows & Alert.rar archive at the bottom of this post, unpack it, then copy and paste the MACD Crossover Arrows & Alert.ex4 or MACD Crossover Arrows & Alert.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
Summary Of That Forex Indicator
The MACD Crossover Arrows & Alert indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 MACD Crossover Arrows & Alert Indicator
To download the MACD Crossover Arrows & Alert Indicator for Metatrader 4 (MT4) for free just click the button below: