Sorry for being away for such a long time but believe me, this time hasn’t gone in vain, I’ve prepared lots of amazing stuff for you. Today we start with a great free indicator that I found really useful and funny to use.
The three Moving Averages Convergence/Divergence indicator for MT4, also known as MAxCD, is a signal oscillator that consists of three moving averages.
The indicator draws 3 colored histogram bars above and below the zero level. One histogram bar represents one moving average.
Basic Trading Signals
Signals from the MAxCD MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade when all 3 histogram bars from the MAxCD indicator are aligned above the zero level.
Place a stop loss 2-3 pips below the most recent support level.
Sell Signal: Open a sell trade when all 3 histogram bars from the MAxCD indicator are aligned below the zero level.
Place a stop loss 2-3 pips above the most recent resistance level.
NOTE: It’s recommended to confirm any buy or sell signal taken from the MAxCD indicator with additional technical indicators or analysis tools for better performance.
Here are some examples of the trades:
P.S. Have problems with installation? Send me an email at email@example.com
I would love to help!