As the name suggests, the Zero Lag MACD indicator for Metatrader 4 works similar to the classic MACD indicator but without lag.
The indicator provides short-term trend direction and works great for both scalpers and day traders.
Swing traders might use this indicator to pinpoint trade entries in trending markets.
The trend is considered bullish above the zero level while bearish below.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Indicator Example Chart (EUR/USD M5)
The picture below shows the Zero Lag MACD Forex indicator in action on the trading chart.
Basic Trading Signals
- Open a buy trade when the Zero Lag MACD indicator crosses the zero level bottom-up.
- Set stop loss below technical support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
- Open a sell trade when the Zero Lag MACD indicator crosses the zero level top-down.
- Set stop loss above technical resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download This Forex Indicator
Adjustable Parameters & Settings
Period, shift, MA method, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: MACD
How to install the Zero Lag MACD indicator in Metatrader 4?
- Copy and paste the ZeroLag MACD.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button