The Volume weighted MACD Metatrader 5 forex indicator allows users select between a tick volume and real volume (for symbols supporting real volumes at all).
The indicator is comprised of a lime green volume weighted MACD line, gold colored volume weighted MACD signal line and Volume Weighted MACD OsMA (misty rose and lavender histograms).
What’s more, this MT5 forex indicator is deployed when currency traders gauge the momentum of price action and trend direction of price.
Download the “vema_macd.ex5” MT5 indicator
The EUR/CHF H4 chart below displays the Volume weighted MACD Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long if both the lime green and gold colored lines of the Volume weighted MACD Metatrader 5 forex indicator break above the zero level.
Sell Signal: Go short if both the lime green and gold lines of the Volume weighted MACD Metatrader 5 forex indicator break below the zero level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the lines (lime green & gold) of the forex indicator break below the zero level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the lines (lime green & gold) of the forex indicator break above the zero level.
Tips: Combining the MACD MT5 forex indicator with other technical indicators like moving averages, Bollinger Bands, etc. will translate into an effective trading strategy for all types of traders.
Download the “vema_macd.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Fast period, Slow period, Signal period, Price to use, Use real volume), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the vema_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)