MACD 3 TF NRP Indicator is a trend following technical tool used to plot crossover signals in order to determine the market trend and the trade signals as well. These crossover signals are very easy to read and are demonstrated in a very simple way so that even a newbie trade can be benefited by applying it for real trading purposes.
MACD 3 TF NRP Indicator generates short-term trading signals and works well at shorter timeframe charts like M1 to M15 within the Metatrader 4 trading platform. However, this indicator can be applied to trade all kinds of forex currency pairs around the financial markets.
MACD 3 TF NRP Indicator Overview
Once you’re done with the installation of the Indicator at the MT4 terminal, your trading chart will appear like the following image:
MACD 3 TF NRP Indicator Explanation
The Indicator uses a separate Oscillator window to plot crossover signals in between its MACD 12 & MACD 26 bands. MACD 12 moves above the MACD 26 represents the bullish crossover and an opposite scenario is considered as the bearish crossover signal of the market trend. For long entry, the MACD bars must be turned positive along with the bullish crossover signal, and for sell entry, the bars should be negative in value with bearish crossovers.
Trending Indicator: Forex Pattern 123 Indicator
MACD 3 TF NRP Indicator: Trading Rules
- MACD 12 moves above the MACD 26
- MACD bars turn positive in value
- Buy triggers when the above conditions are met
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever the indicator bars closes below the MACD 12 band
- MACD 26 moves above the MACD 12
- MACD bars turn negative in value
- Sell triggers when the above conditions are met
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever the indicator bars closes above the MACD 12 band4