The FX5 MACD Divergence Forex indicator for Metatrader 4 displays the best divergences that occur between price and the MACD indicator.
After loading the indicator onto the chart, it appears in both the main activity chart and in a sub-window below the main chart.
It’s easy to trade with this divergence indicator because it draws the actual buy and sell signal on the chart.
You don’t need to spot the positive or negative divergence between price and MACD yourself.
A buy signal occurs when the FX5 MACD indicator draws a green arrow on the chart.
A sell signal occurs when the FX5 MACD indicator draws a red arrow on the chart.
Just try this awesome indicator!
- A green divergence arrow suggests a bullish trend. It’s a buy signal.
- A red divergence arrow suggests a bearish trend. It’s a sell signal.
- The FX5 indicator can be deployed as a standalone trading system.
- Works for any time frame.
Indicator Example Chart
The USD/JPY 15-minute chart below displays the FX5 MACD Divergence Forex indicator in action.
Basic Trading Signals
Signals from the FX5 MACD Divergence indicator for Metatrader 4 are easy to interpret and goes as follows:
Buy Signal: Open a buy trade as soon as the green arrow appears on the chart.
Place a stop loss 2-3 pips below short-term support or apply your own stop loss method.
Apply your own take profit method for buy trades or wait until you receive an opposite trading signal.
Sell Signal: Open a sell trade as soon as the red arrow appears on the chart.
Place a stop loss 2-3 pips above short-term resistance or apply your own stop loss method.
Apply your own take profit method for sell trades or wait until you receive an opposite trading signal.
Download This Forex Indicator
Adjustable Parameters & Settings
Fast EMA, slow EMA, signal, positive sensitivity, negative sensitivity draw divergence lines, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Recommended Currency pairs: Any + Stocks + Commodities + Cryptocurrencies + Gold
Trading Platform: Metatrader 4 (MT4)
Time Frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: divergence
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.