MACD might be the most useful indicator in forex. It is almost a shame to combine it with some other tool of either trend identification or position entry timing. By combining MACDs with different calculation periods, indicators can serve both as trend identification and entry signal. And it works very well.
This trading setup is extremely aggressive, accurate and with tight money management.
Used forex indicators
MACD (Moving average convergence divergence)
Trend identification: 48,102,9 (standard histogram)
Entry signal: 5,10,9 (thick red histogram)
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Second MACD is applied on first indicators' data. Drag and drop it from navigator menu on first MACD chart. Choose : apply on first indicators' data).
Forex strategy rules:
BUY:

First MACD (50,Grey) histogram is above zero. This will be considered uptrend.
First red MACD bar (following a series of below zero bars) closed above zero (closed together with bullish candle). We enter long.
Stop loss is placed 3 pips below the price low, that was reached while Red MACD histogram closed below zero.
Take profit: We wait for first red (or Grey) MACD bar to close below zero line. If the position doesn't reach profit with first below zero MACD bar we do not close it.
We can open another position at higher price and adjust stop loss and take profit to the second position. We Exit both in profit on first below zero MACD histogram, or at stop loss below the second signal.
We can enter as many positions as necessary with following rules:
Always at higher price.
We move all of our stop losses below last signal.
We exit the trades at nearest opportunity.
SELL:

First MACD (50,Grey) histogram is below zero. This will be considered downtrend.
First red MACD bar (following a series of above zero bars) closed below zero (closed together with bearish candle). We enter short.
Stop loss is placed 3 pips above the price high, that was reached while Red MACD histogram closed above zero.
Take profit: We wait for first red (or grey) MACD bar to close above zero line. If the position doesn't reach profit with first above zero MACD bar we do not close it.
We can open another position at higher price and adjust stop loss and take profit to the second position. We Exit both in profit on first below zero MACD histogram, or at stop loss below the second signal.
We can enter as many positions as necessary with following rules:
Always at lower price.
We move all of our stop losses above last signal.
We exit the trades at nearest opportunity.