Custom MACD Indicator

Custom MACD Indicator

The Custom MACD indicator for MT4 is an optimized MACD indicator that displays trend reversals with more precision.

The Custom MACD indicator for MetaTrader 4 is an optimized version of the traditional MACD indicator that displays trend reversals with more precision. The indicator has the same working principle as the regular MACD; however, it does display buy/sell signals with more simplicity.

The indicator may be used in isolation, especially when a buy/sell signal occurs around a support or resistance zone. However, it can also be used as a confluence with price action/other indicators to filter out false signals.

How to Trade With the Custom MACD Indicator

The image above displays the action of the Custom MACD indicator on the EURUSD currency pair. The red signal line of the indicator defines the trend direction of the market as bullish and bearish. So, a buy signal is indicated when the blue MACD line is above the red signal line, while a sell signal is depicted when the blue MACD line is below the red signal line.

Essentially, you may buy or sell an asset when the blue MACD line is above/below the red signal line, respectively. Furthermore, you may also hold and trail a buy/sell running trade as long as the blue MACD line is above/below the red signal line. This would help you to maximize more profits from the market.

Conclusion
The Custom MACD indicator for MT4 was designed to deliver buy/sell signals in a basic way, which makes it a convenient technical tool for absolute beginners in forex trading. Besides, it is also suitable for scalpers and day/intraday traders in the financial industry. Finally, it is free to download.