MACD 4C Indicator
The MACD 4C indicator for Metatrader 4 is an exciting tool for forex traders applying divergence and convergence trading techniques. Therefore, the indicator will add value and support the technical trader with a visual representation of the MACD histogram.
Most successful Forex traders use technical analysis. Technical forex traders outnumber fundamental traders and form a major part of the trading community. Traders use trading tools and indicators largely to understand the trend and to anticipate a trading instrument’s price movements. One of the most commonly used and widely accepted technical indicators by forex traders is the MACD – Moving Average Convergence and Divergence Indicator. MACD 4C Indicator is an advanced version of the traditional MACD indicator. The MACD 4C displays the MACD as a histogram. Moreover, it displays the histogram in four different colors to differentiate the strength of the trend.
Traditional MACD users will find MACD histogram displayed as a single color. But the MACD 4C uses four different colors to identify the strength of the trend visually. It is used by traders regardless of the trading platform. It forms an integral part in identifying the direction of the market and gauging the market’s strength.
MACD 4C Indicator For Metatrader 4 Trading Method
The above shows the indicator trading method in a EURUSD M15 chart. The indicator shows the histogram in 4 different colors. The histogram is displayed in Green and Lime color if the histogram is above the Zero line. On the other hand, the histogram is shown in Red and Maroon color below the Zero line.
The MACD 4C indicator is robust and performs at its best to provide convergence and divergences. The best method to identify the beginning of the trend’s end is to apply MACD 4C. Convergence or Divergence happens when the indicator and the market prices behave opposite to each other. Since convergence and divergence indicate the trader about the possible change in momentum of the current trend. Forex technical traders use this information of convergence and divergence with other technical indicators in confluence to find the best entry points. For example, many forex traders use MACD 4C indicator combined with other indicators like the RSI and Stochastic indicator to filter the trading signals or create a final trade plan.
The MACD 4C is visually easy to identify the divergence and convergence and is suitable for new traders. Experienced forex traders use the indicator to add confluence with multiple trading indicators. Moreover, the indicator is available as a free download.
Conclusion
The MACD 4C indicator for Metatrader 4 is an exciting tool for forex traders applying divergence and convergence trading techniques. Furthermore, this technical indicator is free to download and is suitable for new and experienced traders. Therefore, the indicator will add value and support the technical trader with a visual representation of the MACD histogram. However, it is important to confirm the trading setups and signals presented by the MACD 4C MT4 indicator with other chart-based technical indicators or fundamental indicators.
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