USDJPY came to life right at 3:00 and it lasted until 4:00. Will trade this again during the Monday morning session which is 9:00 to 12:00 Eastern time. Here are the instructions for setting up the indicator in MT4:
- In MT4 go to the Navigator window and click MACD under indicators. The grey custom indicator box opens. Click on the Inputs tab. Highlight the value box next to Fast EMA Period and change it to 9. Then Highlight the value box next to Slow EMA Period and change it to 20. Then Highlight the value box next to Signal SMA Period and change it to 3. The Fast EMA shows up as bars instead of a line but whenever the little bars poke above the Slow EMA line it is a bullish signal and whenever the Slow EMA line crosses above the little bars it is a bearish signal same as the two lines in the Free Stock Charts.Below is the screen capture of the last hour of trading in the USDJPY currency pair.
- If you click on the above image it should enlarge so that you can see how the indicator gave accurate signals. Try paper trading this a few days before putting your money on the line.
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