MTF Macd X Indicator for MetaTrader 4

0
567
MTF Macd X Indicator for MetaTrader 4

The MTF Macd X Indicator is a multi-timeframe indicator that is used to determine the general trend of an instrument and establish perfect entry points. The indicator is based on the Moving Average Convergence Divergence (MACD) indicator, which was created by Gerald Appel in the 1960s. The MACD indicator shows the difference between a fast and slow exponential moving average (EMA) of closing prices.

Why Is It Important?

The MTF Macd X Indicator is important because it allows traders to check four timeframes under one roof. This means that regardless of the timeframe you are operating on, the indicator will show what is happening in the four specified time frames. The MTF Macd X Indicator is a must-have for people who want to boost their profits.

How Does It Work?

The MTF Macd X Indicator has four lines representing four different time frames. The first row closest to the chart represents the daily timeframe. The second line represents the H4 time frame. The third line represents the one-hour time frame, and the last line, furthest from the price chart, represents the 15-minute time frame. The indicator shows a simple table where for each timeframe, you can see the respective MACD trend. On the chart, you can also see whether MACD is currently gaining or losing momentum across all timeframes.

How To Work With It?

MTF Macd X Indicator can help filter trades or enhance input signals. This means checking the higher time frame to get the overall trend and the lower time frame to choose an ideal entry point. Remember, the trend is your friend, and trading against the trend is quite suicidal, well, for your account.

To give you a clear picture, let’s assume you want to buy. First, you should wait for the daily time frame row to turn green. Then you should wait for the price to retrace. This means waiting for the other time frames to turn red. Once they turn green again, signaling the initial uptrend has resumed, you can open your long position.

What Are The Benefits Of Using It?

The MTF Macd X Indicator has several benefits, including:

  • It allows traders to check four timeframes under one roof.
  • It helps traders to determine the general trend of an instrument and establish perfect entry points.
  • It is a must-have for people who want to boost their profits.
  • It can help to filter trades or enhance input signals.

What Are The Limitations Of Using It?

The MTF Macd X Indicator has some limitations, including:

  • It can be confusing for new traders.
  • It requires some knowledge of technical analysis.
  • It is not a standalone tool and should be used in conjunction with other indicators.

What Are The Alternatives To Mtf Macd X Indicator?

There are several alternatives to the MTF Macd X Indicator, including:

How to Trade with MTF Macd X Indicator

How to Trade with MTF Macd X Indicator

Buy Entry

  • Wait for the daily timeframe row to turn green.
  • Wait for the price to retrace.
  • Wait for the other time frames to turn red.
  • Once they turn blue again, signaling the initial uptrend has resumed, you can open your long position.
  • Set your stop-loss below the recent swing low.
  • Set your take-profit at least twice the distance of your stop-loss.

Sell Entry

  • Wait for the daily timeframe row to turn red.
  • Wait for the price to retrace.
  • Wait for the other time frames to turn green.
  • Once they turn red again, signaling the initial downtrend has resumed, you can open your short position.
  • Set your stop-loss above the recent swing high.
  • Set your take-profit at least twice the distance of your stop-loss.

MTF Macd X Indicator Settings

MTF Macd X Indicator Settings

Conclusion

MTF Macd X Indicator is a powerful tool that can help traders make informed decisions when trading on the MetaTrader 4 platform. It allows traders to check four timeframes under one roof, determine the general trend of an instrument, and establish perfect entry points. While it has some limitations, it is a must-have for people who want to boost their profits.

Recommended MT4/MT5 Brokers

XM Broker

  • Free $50 To Start Trading Instantly! (Withdraw-able Profit)
  • Deposit Bonus up to $5,000
  • Unlimited Loyalty Program
  • Award Winning Forex Broker
  • Additional Exclusive Bonuses Throughout The Year

XM broker

>> Sign Up for XM Broker Account here <<

FBS Broker

  • Trade 100 Bonus: Free $100 to kickstart your trading journey!
  • 100% Deposit Bonus: Double your deposit up to $10,000 and trade with enhanced capital.
  • Leverage up to 1:3000: Maximizing potential profits with one of the highest leverage options available.
  • ‘Best Customer Service Broker Asia’ Award: Recognized excellence in customer support and service.
  • Seasonal Promotions: Enjoy a variety of exclusive bonuses and promotional offers all year round.

fbs broker

>> Sign Up for FBS Broker Account here <<

 

Upgrade

(Free MT4 Indicators Download)

Click here below to download:

MTF Macd X – indicator for MetaTrader 4

Get Smarter About Forex Trading Using Indicators

Join 100,000+ subscribers and get our 5 min daily newsletter on what matters in forex.

We do not sell or share your information with anyone.

LEAVE A REPLY

Please enter your comment!
Please enter your name here