Summary of "📊MACD Double Indicator for MetaTrader 4/5 – Free [TradingFinder]"
Double MACD Indicator for MetaTrader 4 and 5
The video introduces the Double MACD Indicator, available for MetaTrader 4 and MetaTrader 5, which can be downloaded from the TradingFinder website. This enhanced MACD indicator visually signals bullish and bearish market trends directly on price charts using colored candlesticks.
Key Finance-Specific Content
Assets and Sectors
- Applicable broadly to markets and assets traded on MetaTrader platforms, including:
- Forex
- Stocks
- Commodities
- Indices
- No specific tickers or sectors are mentioned.
Indicator Functionality & Trading Strategy
- Trend signals via candlestick colors:
- Blue candlesticks: indicate a bullish trend
- Enter a buy position on the 1st or 2nd blue candlestick.
- Red candlesticks: indicate a bearish trend
- Enter a sell position on the 1st or 2nd red candlestick.
- Blue candlesticks: indicate a bullish trend
- Stop loss placement:
- Behind the previous swing high/low or pivot point.
- Risk-to-reward ratio:
- Suggested at 1:1 or 1:2.
- Alternatively, hold the position as long as candlesticks remain the same color.
- Exit strategy:
- Exit the trade when the candlestick color changes.
Customization and Settings
- Adjustable MACD parameters:
- Fast moving average period length
- Slow moving average period length
- Signal line moving average period length
- Alert notifications:
- Enable or disable alerts when trend or candlestick color changes.
- Alerts can be sent as pop-ups or to an email inbox (email setup required in MetaTrader options).
- Email alerts depend on enabling the primary alert toggle first.
Usage Notes
- The indicator is described as practical and user-friendly for trend identification.
- No explicit performance metrics, backtesting results, or financial advice disclaimers are provided.
Methodology: Step-by-Step Framework for Using the Double MACD Indicator
- Download and install the Double MACD indicator on MetaTrader 4 or MetaTrader 5.
- Apply the indicator to the chart by dragging it from the navigator section.
- Observe candlestick color changes for entry signals:
- Blue candlestick → consider buying.
- Red candlestick → consider selling.
- Enter trades on the first or second candlestick after the color change.
- Set stop loss behind the previous swing high/low or pivot point.
- Manage risk with a risk-to-reward ratio of 1:1 or 1:2, or hold the position until the candlestick color reverses.
- Optionally, customize MACD parameters and enable alerts for trend changes.
Presenters / Source
- TradingFinder (channel or website hosting the indicator and tutorial)
Category
Finance
