Macd Scanner with embedded Trend filter
Buy and get PinBar Scanner for Free! Contact me by private message after your purchase.
This scanner is monitoring the entire market for trade opportunities for all symbols and for all time frames. You don't have to look to all the charts, for all symbols and for all time frames. This scanner will alert you on your computer, or on your mobile, when a trade opportunity has been found. You never have to miss a trade opportunity!
This indicator is designed to scan all pairs and symbols, for all time frames, to find a cross of the MACD main and signal line.
The MACD is used to follow trends. The MACD is calculated as follows: 12-period EMA - 26 period EMA (default values). The MACD signal is the EMA (9 days) of the MACD line. The most important signal of the MACD is when the MACD crossed the signal line up or down. This gives us a signal that a trend might be emerging in the direction of the cross.
Note: This indicator will not show information on the chart. This is a scanner and will provide reliable MACD trading alerts.
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MACD Trading Strategy
The MACD strategy is to trade when there is a cross of the MACD and Signal line. However, you do not want to act on every signal. You will be most successful when you follow the trend.
This scanner has implemented multiple filters to provide most reliable MACD signals:
- Signals will be filtered when it is not following the MACD trend. E.g. If the MACD is below the zero line, no Bullish alerts will be issued.
- The scanner has an embedded trend filter, to only provide signals following the trend.
- It will filter signals if the MACD value is low. If the MACD value is low, it means that the 12-period EMA and the 26 period EMA are close to each other. In this case, there is no strong trend, and you don't want to trade in this condition.
- Like for every indicator, the higher time frames are more reliable then shorter time frames. For that reason, the recommendation is to use the scanner for high time frames only (H1 or higher).
- Do not enter the market when high critical news is expected the same day. High critical news can result in unexpected movements in the market, which can not be identified by any indicator. News can be found on e.g. the MQL website, DailyFX and investing.com.
- Do not enter the market when the price is close to an important support or resistance.
- Provide trading signal to enter the market, for a MACD / Signal cross, in line with the mean trend.
- Provide signals to exit the market, based on a counter trend MACD/Signal cross.
- Scans all symbols visible in your Market Watch window, or all symbols available for your broker at the same time.
- Indicator only have to be installed on one chart to scan the entire market.
- Specify which time frame you want to monitor. Each time frame can be selected in the settings.
- The dashboard will show the latest alerts provided by this Scanner. When you click on an alert in the dashboard, a new chart will be opened for the applicable Symbol and time frame. The new chart will highlight the alert with a vertical line.
- Receive Alerts in the MT4 terminal for each trade opportunity found.
- Receive Alerts on your mobile phone, so you never miss a trade opportunity!
- Low CPU usage.
- Alerts for MACD Main / Signal crosses, with Trend filter
- Alerts when the MACD 0-line is crossed
- Download the Indicator in your MT4 terminal after you have purchased the product.
- Put the indicator on one chart in your MT4 terminal (any chart can be used, any symbol and time frame can be used), and from that moment the entire market will be scanned for all pairs and symbols, and for all time frames as configured.
Please refer to my blog for detailed clarification for all the settings:
The new setting is the following:
Show Comments on chart: If set to True, comments will be shown in the top left corner to show that the indicator is loaded. If set to False, no comments will be shown.
The following options are now available in the settings:
- Fast MA Method
- Slow MA Method
- A new chart will be opened when you click on an alert in the dashboard. The new chart will show the alert provided by the scanner for the applicable symbol and time frame.
- Ability to enter symbols you want to scan by this scanner.