MACD Candles Indicator

MACD Candles Indicator

MACD Candles Indicator for MT5 displays the bullish and bearish price trend of multiple forex currency pair charts on the current chart.

The MACD Candles indicator for MT5 displays the direction and position of the MACD line relative to the zero line. In fact, it displays information about multiple time frames in the comment area.

This helps the forex trader to determine the direction of the trend on multiple time frames at a glance. This way, forex traders can stay in the general direction of the trend.

The indicator is easy to understand and suitable for both new and experienced Forex traders. Since the indicator is multi-timeframe, it works the same on any chart. It works for a wide range of traders, from scalpers, short-term and long-term traders.

MACD Candles Indicator For MT5 Trade Setup

The indicator displays timeframes in different colors. If the MACD moves up and above the zero line, it is shown in light green, and if below the zero line, it is shown in orange.

The indicator does not provide trading signals, but helps traders determine the direction of the trend. If three consecutive time frames show a bullish trend, traders should enter the market with a buy trade with a stop loss below the previous swing low.

Conversely, if three consecutive time frames are highlighted in orange, it indicates a bearish trend. The indicator does not provide a target profit, so traders should exit based on a good risk-reward ratio.

Conclusion
Thus, MACD Candles Indicator for MT5 helps forex traders to determine the trend direction on multiple time frames at a glance.