MT4-Trend MA Candles

COLORED TREND MA / MACD CANDLES

• draw MA Candles above/below Moving Average in a single color
• draw MA as a leading Line like a Supertrend
• draw MA as a Channel => MA High and Low

• draw MACD Candles above and below 0 and Signal-Line

Your  Advantage:

• a simple view of the trend direction
• a simple view over the higher trend direction
• a calmer chart for the eye
• clear rules can be defined

Settings:

• Bars to process : 6000 is my default, this value is up to you
• Value Quick-Set : pre-Settings
• MACD 12 / 26 / 9
• MACD 3 / 9 / 6
• MACD customize
• MA Candles
• Fast EMA : 12
• Slow EMA : 26
• MACD SMA : 9
• MA Period : default 20, which is my favorite for all timeframes, I believe in the 20 ema as a proof for trend-direction (in combination with a higher timeframe)
• MA Shift : 0
• MA Mode : default exponential, is my favorite MA-Mode
• MA Price middle : Close price for the middle-line
• MA Price high : High price (high / low  for a channel, close for all 3 lines, means a continuous line)
• MA Price low : Low price  (high / low  for a channel, close for all 3 lines, means a continuous line)

Rules I , as shown in screenshots, Trading the H1-Chart:

• H1 :
• 1. Trend-MA-Candles: colored Trend MA=120
• 2. Trend-MA-Candles: default

• short :
• red Candle closed
• Close needs to be below 20ema/low (green line)
• Entry a few pips below that Candle
• if the Candle is obvious very long, be careful, it could be wise to wait for an Entry closer to the MA
• if the 120ema is below that Entry-Candle / far away, it could just be a correction and not a trend-change
• the longer the trend runs, the more likely is a correction or a trend-change
• Risk => a few pip above the Entry-Candle
• Target => previous support and resistance levels

• long :
• green Candle closed
• Close needs to be above 20ema/high (red line)
• Entry a few pips above that Candle
• if the Candle is obvious very long, be careful, it could be wise to wait for an Entry closer to the MA
• if the 120ema is above that Entry-Candle / far away, it could just be a correction and not a  trend-change
• the longer the trend runs, the more likely is a correction or a trend-change
• Risk => a few pips below the Entry-Candle
• Target => previous support and resistance levels

Rules II , watching H4, Trading H1:

• Settings H4 :
• default

• Settings H1 :
• default

• short / long :

• H4
• obvious Trend below / above MA
• H4 and H1 need to be in the same trend-direction

• H1
• red Candle closed / green Candle closed
• Close needs to be below 20ema/low (green line) / above 20ema/high (red line)
• Entry a few pips below that Candle / above that Candle
• if the Candle is obvious very long, be careful, it could be wise to wait for an Entry closer to the MA
• the longer the trend runs, the more likely is a correction or a trend-change
• Risk => a few pips above the Entry-Candle / below the Entry-Candle
• Target => previous support and resistance levels

Recommendations

• I don't trade after over-size-candles
• I only go for a clear trend on the higher time-frame
• I stay out before high-impact news hit the market
• Always on my mind, major Support and Resistance
• No trade without money-management, please calculate your risk, trade smart
• There is no guarantee of success as in any trading business / in my examples above

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