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The BB MACD nrp with alerts trading indicator is a trading algorithm based on the interaction of two standard Forex indicators. Their general calculations are aimed at determining the current trend, namely its direction and strength in the current market. The BB MACD nrp with alerts indicator is presented in the lower window a price chart in the form of a channel made up of three lines, namely, two Bollinger Bands boundaries and a MACD line between them. At the same time, the parameter of the presence of arrows and dots on the chart can be set in the settings. Taking into account the values of the indicator, namely its lines, as well as signals, which it produces, the trend is determined, taking into account which the trade is opened.
The BB MACD nrp with alerts indicator is suitable for trading any currency pairs on any timeframe. At the same time, the indicator is also suitable for trading in multi-timeframe mode.
Input parameters
The settings of the BB MACD nrp with alerts indicator consist of several sections. The Input parameter section is responsible for its technical operation, the Colors section is used to change its visualization, and the Levels section is used to add signal levels to the indicator window.
-TimeFrame - parameter for using the trading timeframe. By default, it has the Current time frame value.
-FastLen - fast line period of the indicator. The default value is 12.
-SlowLen - period of the indicator's slow line. The default value is 26.
-Length - indicator signal line period parameter. The default value is 10.
-StDv - standard deviation value of the indicator. The default value is 1.0.
-drawDots - parameter for the presence of dots on the chart. The default value is false.
-arrowsVisible - Arrows visualization option. The default value is false.
-arrowsIdentifier - parameter of the indicator responsible for the arrows on the chart. The default value is bb macd arrows.
-arrowsUpColor - the color of the arrows with the growth value. The default value is DeepSkyBlue.
-arrowsDnColor - color of arrows with falling value. Red by default.
-alertsOn - the option to have notifications when receiving alerts. The default value is false.
-alertsOnCurrent - signal parameter on the current bar. By default, it is set to true.
-alertsMessage - parameter to notify about the signal as a message in the indicator's main window. The default value is true.
-alertsSound - option to sound notification when an alert is received. The default value is false.
-alertsEmail - option to receive an alert to the previously specified email. The default value is false.
-Interpolate - parameter for using the indicator in multi-timeframe mode. The default value is true.
Indicator signals
It will not take much effort to open a certain trade using the BB MACD nrp with alerts indicator. When trading, it is important to take into account the direction and strength of the current trend, for this, in turn, the direction of its lines, the color of the middle line and its location relative to the borders of the indicator channel are taken into account. arrows and dots on the chart, their values are also taken into account. If the current market trend is upward, buy trades are opened, if the trend is downward, sell trades. When the current trend changes, in both cases, trades are closed.
Signal for Buy trades:
- The indicator lines are directed upwards and cross the level 0. The middle line has a color with a growth value and crosses above the upper border of the indicator.
Upon receipt of such conditions on a signal candle, a buy trade can be opened, due to the presence of an uptrend. Upon receipt of the opposite conditions from the indicator, namely, when the current trend changes, the trade should be closed and opening new ones should be considered.
Signal for Sell trades:
- The channel of the indicator lines moves below level 0. The middle line falls below the lower border of the channel and has a color with a falling value.
Upon receipt of such a combination of conditions on a signal candle, a sell trade can be opened. At this moment, a downtrend is determined. At the moment of its change, that is, upon receiving the opposite conditions, the trade should be closed. At this point, it should be considered opening new trades.
Conclusion
The BB MACD nrp with alerts indicator is a very powerful trading algorithm, as its calculations are based on time-proven indicators. In order to gain the necessary skills and use the indicator correctly, practice on a demo account is recommended.
