The MACD on RSI indicator for MT4 is a technical buy/sell indicator that opens up in the bottom window of your trading platform.
The indicator appears as a red colored buy/sell histogram and a blue and red line, somewhat wrapped around the histogram.
MACD on RSI performs well for scalpers and day traders.
The indicator can be used in various ways.
Buy & Sell Trade Example
- Open a buy signal as soon as the first red colored histogram bar crosses the 0.00 level bottom-up.
- Open a sell signal as soon as the first red colored histogram bar crosses the 0.00 level top-down.
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 on rsi.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the MACD on RSI 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 on RSI 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.
