MTF MACD Bars Indicator is a technical analysis tool that helps traders identify bullish and bearish trends in the market. It is based on the Moving Average Convergence Divergence (MACD) indicator, which is a popular momentum indicator used by traders to identify trend reversals, momentum shifts, and potential buy and sell signals.
Why Is It Important?
The MTF MACD Bars Indicator is important because it provides traders with a visual representation of the MACD indicator, which can be difficult to interpret at times. The MTF MACD Bars Indicator displays the MACD values in the form of bars, which makes it easier for traders to identify bullish and bearish trends in the market.
How Does It Work?
The MTF MACD Bars Indicator works by plotting the MACD values as bars. The bars are color-coded to indicate bullish and bearish trends in the market. The green bars indicate a bullish trend, while the red bars indicate a bearish trend. The MTF MACD Bars Indicator can also display the MACD values of a higher or lower time frame in the current chart’s indicator window.
What Are The Benefits Of Using It?
The benefits of using the MTF MACD Bars Indicator include:
Easy to interpret: The MTF MACD Bars Indicator provides traders with a visual representation of the MACD indicator, which can be difficult to interpret at times.
Identifies trends: The MTF MACD Bars Indicator helps traders identify bullish and bearish trends in the market.
How to Trade with MTF Macd Bars Indicator
Buy Entry
- Look for green bars in the lower segment of the indicator.
- Enter the market when the color of the bars in the lower segment of the indicator turns yellow-green.
- Hold the position if the bar color in the upper segment changes to Green.
- Set your stop-loss below the most recent swing low.
- Set your take-profit at least twice the distance of your stop-loss.
Sell Entry
- Look for red bars in the upper segment of the indicator.
- Enter the market when the bars’ color in the indicator’s upper segment turns Tomato Red.
- Hold the position if the color of the bar in the lower segment changes to Red.
- Set your stop-loss above the most recent swing high.
- Set your take-profit at least twice the distance of your stop-loss.
MTF Macd Bars Indicator Settings
Conclusion
The MTF Macd Bars Indicator for MetaTrader 4 is a useful technical analysis tool that can help traders identify bullish and bearish trends in the market. It is based on the MACD indicator, which is a popular momentum indicator used by traders to identify trend reversals.
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MTF Macd_Bars – indicator for MetaTrader 4