FREE DOWNLOAD “Double MACD Forex Trading Strategy” – Does your system use any custom indicators? None, I don’t use any custom indicators.
I usually work on the 1H chart, which suits my trading style during my daily routine. Sometimes, I trade on the 4H and Daily chart too, that’s usually if I am too busy at my daily job.
This system should work fine in any timeframe, especially with higher timeframes.
- Time Frame: Any
- Currency Pairs: The best pair is GBPUSD. But you can trade on EURUSD, EURJPY, GBPJPY, and Gold.
- Download “TraderVersity.Com-DoubleMACD” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “TraderVersity.Com-DoubleMACD.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client.
- Select Chart and Timeframe where you want to test your forex system.
- Right-click on your trading chart and hover on “Template”.
- Move right to select “TraderVersity.Com-DoubleMACD” trading system and strategy
- You will see “Double MACD Forex Trading System” is available on your Chart
The MACD has two zones. When the price is going up and the histogram is above the zero lines, it is in the positive zone. It serves as a strong indication that the trend is up.
Basically, when the histogram is crossing the zero line going upwards, it is a BUY SIGNAL.
However, if the histogram is below the zero-line, it is in the negative zone, which means that the current trend is down.
So, when the price is crossing down below the zero-line, this is considered a SELL SIGNAL.
There are a number of entry rules but they are very simple. Basically, before entering a sell trade, I just make sure that the Red MACD has visually crossed under and is below the Blue MACD.
NOTE: The zero line of the Yellow MACD and the zero-line of the Blue MACD are usually not on the same level. So, when referring to a MACD crossing the zero line, it means that it is crossing its own zero-line without reference to the zero-line of the other MACD.
- Fast EMA > Slow EMA
- The price is going up and the (red & Blue) histogram is above the zero lines
- Red histogram > Blue histogram
- Fast EMA < Slow EMA
- The price is going down and the (red & Blue) histogram is below the zero lines
- Red histogram < Blue histogram
Avoid news releases. Also, if the price does not move in my favor or tends to range, I will close the trade before hitting the take profit or my mental stop before I go to sleep.