gMTF MACD X Indicator

gMTF MACD X Indicator

gMTF MACD X Indicator For MT4, best trend indicator displays the forex bullish and bearish trend direction of M15, M30, H1, H4 price charts in same chart

The gMTF MACD X indicator for MT4 plots MACD trend direction of four different time frames in a same chart. Since the indicator plots 15, 30, H1 and H4 trend direction, traders can understand the trend situation at a glance. As a result, this indicator helps trend traders to analyze multiple trend direction and stay in the direction of general trend.

This indicator is simple to understand and is easy for new and advanced forex traders. Moreover, the indicator works well in all intraday charts. Furthermore, this indicator is well suited for automated trading systems. This indicator does not repaint once the current candle closes.

gMTF MACD X Indicator For MT4 Trading Signals

The indicator plots bullish boxes in blue and bearish ones in red. Moreover, the four indicator lines represent the M15, M30, H1 and H4 price chart in a separate indicator window. The trading strategy is to buy or sell based on the maximum bearish or bullish situation in majority of the time frames.

If the MACD indicator boxes for more than 2 chart time frames are blue, it indicates a bullish trading signal. Traders should enter the markets with a buy trade and secure the position with a stop loss below the previous swing low.

Similarly, more than 2 red boxes in the time frames indicate a bearish market trend. Traders should consider placing a sell position with a stop loss above the previous swing high. The indicator does not provide a potential profit target, so traders should consider booking profit if the box color changes. In addition, traders can exit with a good risk reward ratio.

Conclusion
In summary, the gMTF MACD Indicator for MT4 is an essential tool for forex trend traders to identify the bullish or bearish trend conditions.