The Leader of the MACD Metatrader 5 forex indicator is a technical tool that is made up of two MACD indicators in one.
Giorgos E. Siligardos introduced the Leader of the MACD MT5 forex indicator.
While the two indicators are a regular MACD and the Leader MACD, the Leader of the MACD forex indicator remains quite easy to interpret and trade.
The regular MACD is drawn as lines (where the colored line depicts the regular MACD and the dotted line is the signal) and the “Leader MACD” (is represented as the shaded zones).
The EUR/USD M30 chart below displays the Leader of the MACD Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the dotted line of the Leader of the MACD MT5 fx indicator intersects the filled line in a bottom up manner to align itself below the non-dotted line, while also waiting for the indicator to form a lavender shaded zone above the zero signal level.
Sell Signal: Go short when the dotted line of the Leader of the MACD MT5 forex indicator intersects the filled line in a top downward fashion to align itself above the non-dotted line, while also waiting for the indicator to form a misty rose shaded zone below the zero signal level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, either the lines (dotted & non-dotted) intersect or a misty rose shaded zone forms below the zero signal level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, either the lines (dotted & non-dotted) intersect or a lavender shaded zone forms above the zero signal level.
Tips: The Leader of the MACD Metatrader 5 forex indicator holds a lot of profit potential, but it’s recommended to mix it with additional technical indicators to bring out the most efficient strategy setup.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Time frame, Fast EMA period, Slow EMA period, Signal EMA period, Price to use, Interpolate mtf data), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: oscillator | trend
Copy and paste the leader_of_the_macd.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)