MACD OsMA on Chart MTF V2 Indicator
Platform: MT4 Type: Momentum Last update: September 23, 2024The MACD OsMA on Chart MTF V2 Indicator is a forex indicator that defines the market trend and additionally signals for trade entries by using clear upward/downward arrows.
What’s more, it places an orange overall on candlesticks when the trend is bearish. Similarly, you can notice a green overlay when the trend is bullish. It is a great fit for both beginners and advanced forex traders.
How does it work?
The MACD OsMA on Chart MTF V2 Indicator consists of three elements: buy/sell arrows, moving average, and candlesticks overlay. Using it is really simple. You just need to follow the provided buy/sell arrows as trading signals. Obviously, a trader will get the best results trading with the MACD OsMA on Chart MTF V2 Indicator when the large market swings take place.
Buy Signal
Follow these steps for a long trade:
- MACD OsMA on Chart MTF V2 Indicator provides blue buy arrow
- Price swings higher from recent low swing
- Buy trade is triggered after the above conditions are met
- Set stop loss a few pips below the last swing low of the market
- Take profit or exit whenever the MACD OsMA on Chart MTF V2 Indicator provides opposite arrow or use your own method of trade exit
Sell Signal
Follow these steps for a short trade:
- MACD OsMA on Chart MTF V2 Indicator provides red sell arrow
- Price swings lower from recent high swing
- Sell trade is triggered after the above conditions are met
- Set stop loss a few pips above the last swing high of the market
- Take profit or exit whenever the MACD OsMA on Chart MTF V2 Indicator provides opposite arrow or use your own method of trade exit
