The MACD Crossover Arrows & Alert indicator for MT4 delivers buy/sell signal arrows and also sends out trading alerts whenever a new arrow appears on the chart.
In essence, it’s a simplified version of the traditional MACD indicator that works with buy and sell arrows instead of the histogram.
Buy & sell signals:
- A blue colored arrow is a buy signal.
- A magenta colored arrow is a sell signal.
The indicator can be used as a standalone trading tool for both trade entry and exit and tends to work slightly better in range-bound currency markets.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download:
Download the “MACD Crossover Arrows & Alert.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H1)
The picture below shows the MACD Crossover Arrows & Alert 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 Crossover Arrows & Alert Forex 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
Does the indicator repaint? No.
Download Now:
Download the “MACD Crossover Arrows & Alert.mq4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the MACD Crossover Arrows & Alert.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.