The Normalized MACD Metatrader 5 indicator shares a lot of similarities with the normal MACD indicator.
Asides that its values are normalized and are approximately falling into a foreseeable range of values (which is nothing like the normal MACD that is void of predictability of expected ranges).
This indicator is usable for direct value-to-value comparison over varying instruments and / or timeframes (considering the values are comparable now).
The line of the Normalized MACD Metatrader 5 forex indicator is made up of two lines; one gray line and a thicker line that alternates its color between lime green and sandy brown.
The crossing of both lines within the Normalized MACD indicator window generates buy/sell trade signals.
The indicator works for scalping, day trading and swing trading.
The EUR/JPY H1 chart below displays the Normalized_MACD Metatrader 5 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the gray line of the Normalized_MACD MT5 Forex indicator intersects the thicker line in a bottom up manner (below the zero level).
Sell Signal: Go short when the gray line of the Normalized_MACD Metatrader 5 fx indicator intersects the thicker line in a top downward fashion (above the zero level).
Exit buy trade: Close all buy orders if while a bullish trend is running, the lines of the Normalized MACD MT5 forex indicator crosses (when above the zero level).
Exit sell trade: Close all sell orders if while a bearish trend is running, the lines of the Normalized MACD Metatrader 5 forex indicator crosses (when below the zero level).
Tips: The thicker line of the Normalized_MACD MT5 indicator alters its color to give us clues of changing trends; lime green depicts bullish signals, while sandy brown indicates bearish trend.
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, Turn alerts on?, Alert on current bar?, Display messages on alerts?, Play sound on alerts?, Send email on alerts?, Send push notification on alert? 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: trend | oscillator
Copy and paste the Normalized_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)