This is the MACD Predictor (On Chart) indicator for MT4 which was coded by Mrtools & Mladen. This indicator almost acts like the Chikou Span from the Ichimoku and makes entries easy for novice traders, even on smaller timeframes.
- When price crosses over the Predictor line, go long.
- When price crosses below the Predictor line, go short.
This indicator comes with (newer drop down box) Multi-timeframe + Interpolation, Alerts, Vertical entry lines & more.
PS: The Histogram version made by Mrtools will be in the next post.