COG MACD Trend Metatrader 4 Forex Indicator

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The COGMACD forex trend indicator is based on the highly popular MACD technical indicator.

This indicator includes an interesting trend-following channel wrapped around the MACD bars.

It’s more easy now to discover the true trend as follows:

  • The trend is seen to be positive when the channel is sloping up.
  • The trend is seen to be negative when the channel is sloping down.

Better performance trading with the COGMACD indicator.

Go long on the following conditions:

  • Channel must be sloping up.
  • MACD colored bars turn Olive from Tomato.

Go short on the following conditions:

  • Channel must be sloping down.
  • MACD colored bars turn Tomato from Olive.

Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.

Free Download

Download the “cogmacd-v2-indicator.ex4” MT4 indicator

Example Chart

The EUR/USD 15-Minute chart below displays the COG MACD Trend Metatrader 4 forex indicator in action.

Basic Trading Signals

Signals from the COG MACD Trend MT4 forex indicator are easy to interpret and goes as follows:

Buy Signal: Open a buy trade when the trend channel is sloping up and the MACD bars turn back to Olive from Tomato color.

Place a stop loss below support or use your own preferred SL method.

Sell Signal: Open a sell trade when the trend channel is sloping down and the MACD bars turn back to Tomato from Olive color.

Place a stop loss above resistance or use your own preferred SL method.

Download

Download the “cogmacd-v2-indicator.ex4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart window indicator

Customization options: Variable (bars back, fma, sma, sigma, fib band, m, j) Width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly

Type: oscillator

Installation

Copy and paste the cogmacd-v2-indicator.ex4 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)