The Super MACD Histogram Metatrader 5 forex indicator is a MACD indicator with added histograms to display the difference between the MACD and the Signal lines.
The calculation of the MACD line can be carried out via any of the usual price types.
When calculating the signal line, you can select between a simple moving average and exponential moving average.
There’s also an option that allows user switch colors on the histograms between single and multi-color.
The indicator offers a variety of ways in which it signals traders’ imminent price actions.
One of which is the intersection of the MACD and the Signal lines or the histogram cross above or below the zero center line.
The EUR/JPY H1 chart below displays the Super MACD Histogram Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the blue signal line crosses above the red MACD signal line from below.
Sell Signal: Go short when the red signal line crosses above the blue MACD signal line from below.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the signal lines cross in the opposite direction (from bullish to bearish).
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the signal lines cross in the opposite direction (from bearish to bullish).
Tips: To effectively make a living trading currencies online, one has to be precise and near-accurate in processing market signals, fortunately the Super MACD Histogram MT5 indicator is built to do just that.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Fast EMA period, Slow EMA period, Signal MA period, Applied MA method for signal line, Use multi-color or single-color histogram, Applied price), 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 macd_histogram_mc.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)