Bollinger Bands MACD CCT is a forex trading indicator build for the metatrader4 platform. The Bollinger Bands MACD CCT is a very simple forex trading indicator. The indicator consists of dot line which predicts buy sell signals. The Bollinger Bands MACD CCT can be used to trade in lower time frames like 5 minute, 15 minutes, and 30 minutes while it can also be used to trade in higher time frames like hourly, four hours, and daily time frames. You can trade being fully dependent upon this indicator alone. You should look at the trend of the market. If the overall trend of the market is up, then only you should take the buy signals generated by the Bollinger Bands MACD CCT. You should not be trading against the trend.
When the Bollinger Bands MACD CCT is correctly installed in your trading platform, your chart should look like this:
The Bollinger Bands MACD CCT has white bear candle bars and blue bull candles on the main chart, and moving averages on the indicator window. The red and blue moving average remain the same through out the day, while the dotted indicator changes color, it becomes blue when bullish and red when bullish.
Rules For Buying And Selling Using Bollinger Bands MACD CCT Indicator
- When buying, make sure the trend is bullish.
- When selling, make sure the trend is bearish.
- The BB MACD indicator signals bullish when the moving averages are at the bottom.
- The BB MACD indicators signals bearish when the moving averages are at the top.
- Note that all signals are temporal because the market is in motion.
- Place your buy order at your support and place stop below the signal bar.
- Place your sell order a your resistance and place stop above the signal bar.
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