Tipu MACD Signals Metatrader 4 Forex Indicator

The Tipu MACD MT4 forex indicator is based on the traditional MACD indicator and generates buy and sell arrow signals on the chart.

The indicator plots MACD in a sub window below the main activity chart, green colored bars for bullish price movement and red colored bars bearish price movement.

You can use this indicator as a stand alone or combine it with a trend-following indicator such as a longer period moving average (SMA or EMA type)

Free Download

Download the “Tipu MACD.mq4” MT4 indicator

Example Chart

The EUR/USD H4 chart below displays the Tipu MACD forex indicator in action.

Basic Trading Signals

Signals from the Tipu MACD indicator are easy to interpret and goes as follows:

Buy Trade: Open buy order when Tipu MACD crosses back above 0.00 from below (first green bar).

Sell Trade: Open sell order when Tipu MACD crosses back below 0.00 from above (first red bar).

Exit Trade: Close trades at an opposite signal, or use your own preferred exit method.

Tip: Use Tipu MACD in conjunction with a trend-following indicator.

For example, a simple moving average or exponential moving average.

Only trade in the direction of the trend indicated by the trend-following indicator.

Bullish trend direction? Trade Tipu MACD buy signals, avoid sell signals.

Bearish trend direction? Trade Tipu MACD sell signals, avoid buy signals.

Download

Download the “Tipu MACD.mq4” MT4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern indicator

Customization options: Variable (MACD Mode, Fast EMA Period, Slow EMA Period, Signal EMA Period, Applied Price, Signal Types, Alert Mobile, Alert Onscreen, Alert Email) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Oscillator

Installation

Copy and paste the Tipu MACD.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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