The Metatrader 4 indicator introduced here is very unique. This “TickerMACD” is simply a MACD indicator that works with tick charts. For this reason, it is a particularly recommended indicator for scalpers. However, there are some things you should be aware of when using it.
Example of displaying this indicator on the EURUSD one-minute chart. Note that chart price movements and indicator depictions do not correlate
“TickerMACD” is updated each time a new tick occurs. As a result, when the price movement is intense (the limit price is updated many times in a short period of time), the "TickerMACD" chart will also update faster.
How to use:
This indicator is perfect for scalping, or better, it can be said that there are not many other uses since it is based on the shortest possible timeframe.
The indicator is used in the same way as the traditional (standard) MACD. For example, you may want to place an order when MACD and MACD signals cross (see image below).
However, the signal reliability is quite low. It's hard to trade well with MACD on a one-minute basis, but it's even more intense and you can trade MACD on a low-dimensional tick chart.
For this reason, it will be difficult to use unless you are very familiar with scalping. In addition, you must be careful with the spread costs. With that said, this “Ticker_MACD” can be safely considered to be an indicator for advanced users.
- PeriodFast - The period used for FastMA calculation
- PeriodSlow - The period used for SlowMA calculation
- PeriodSignal - The period used for MACD Signal calculation
- CountBars - Defines how far the Ticker_MACD will be displayed
Download the MT4 "Ticker_MACD" scalping indicator from the button below
Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.