MACD Cross Forex Signal is a free mt4 (Metatrader 4) indicator that provides simple-to-use, yet profitable MACD crossover channel signals.
The indicator appears in the form of a trading channel and MACD in a separate MT4 chart window.
The MACD Cross Forex Signal indicator can be used in various ways.
Buy & Sell Trade Example
- Open a buy trade when the blue MACD signal line crosses the lower green dotted channel line bottom-up and the underlying trend is upwards.
- Open a sell trade when the blue MACD signal line crosses the upper green dotted channel line top-down and the underlying trend is downwards.
The MACD Cross Forex Signal can be used as a standalone trading indicator, or it can act as a powerful trend filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “kg macd line.mq4” indicator for MT4
Indicator Chart (EUR/USD Daily)
The example chart below displays the MACD Cross Forex Signal mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the MACD Cross Forex Signal indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: MACD signals
Does the indicator repaint? No.
MACD Cross + Coron MT4 Scalping Strategy
This scalping strategy uses the MACD Cross Forex Signal Indicator alongside the Coron MetaTrader 4 Indicator.
The MACD Cross Indicator provides precise entry signals when the blue signal line crosses key dotted levels, while the Coron Indicator identifies the overall trend using a green or red histogram.
Combining these indicators allows traders to scalp short-term moves with high accuracy on M1, M5, and M15 charts.
This strategy works best on major currency pairs with good liquidity, such as EUR/USD, GBP/USD, and USD/JPY.
Buy Entry Rules
- Ensure the Coron Indicator histogram is green, indicating a bullish trend.
- Wait for the MACD Cross blue signal line to cross back above the lower dotted green line.
- Enter a buy trade at the crossover point.
- Set a tight stop loss below the recent swing low or a nearby support level.
- Take profit at 10–20 pips for quick scalping or at the next minor resistance level.
Sell Entry Rules
- Ensure the Coron Indicator histogram is red, indicating a bearish trend.
- Wait for the MACD Cross blue signal line to cross back below the upper dotted green line.
- Enter a sell trade at the crossover point.
- Set a tight stop loss above the recent swing high or a nearby resistance level.
- Take profit at 10–20 pips for quick scalping or at the next minor support level.
Advantages
- Combines trend confirmation with precise entry signals for better accuracy.
- Works well for fast intraday scalping on multiple currency pairs.
- Clear visual cues make it beginner-friendly.
- Can be used on multiple timeframes to capture different scalping opportunities.
Drawbacks
- Signals can be late in highly volatile markets, potentially causing missed entries.
- Choppy or sideways markets may produce false signals, leading to small losses.
- Requires constant attention due to the fast pace of scalping trades.
- Stop losses can occasionally be triggered by short-term price spikes.
Example Case Studies
Case Study 1 – EUR/USD M5
During the London session, the Coron Indicator showed a green histogram, confirming a bullish trend.
The MACD Cross blue line crossed back above the lower dotted green line at 10:12.
A buy trade was opened at 1.1053 with a stop loss at 1.1045 and a take profit at 1.1065.
The trade reached the target in 15 minutes, securing 12 pips.
Case Study 2 – GBP/USD M1
On the GBP/USD M1 chart, the Coron histogram turned red, signaling a bearish trend.
The MACD Cross blue line crossed below the upper dotted green line at 09:34.
A sell trade was entered at 1.2985 with a stop loss at 1.2992 and a take profit at 1.2975.
The trade moved quickly in favor of the trend, reaching the take profit in under 10 minutes for a 10-pip gain.
Strategy Tips
- Trade only in the direction of the Coron trend histogram to filter out false signals.
- Focus on high liquidity pairs to ensure tighter spreads and faster execution.
- Use small timeframes (M1–M15) for scalping and adjust take profit according to volatility.
- Combine with support and resistance levels to improve trade exits and stop placement.
- Avoid trading during major news events to prevent sudden price spikes affecting stops.
- Consider using partial exits to lock in small profits quickly in fast markets.
