The ZeroLag MACD Metatrader 5 forex indicator is a Moving Average Convergence/Divergence Indicator with zero delay.
When compared to the standard MACD indicator, the ZeroLag MACD issues signals a few bars earlier, with a more pronounced convergences/divergences.
Essentially, the MT5 indicator in its default state displays a blue histogram (representing the ZeroLag MACD) and a red signal line enclosed within an indicator window.
The Zero Lag MACD proves most potent in a wide-swinging market conditions.
There are three common ways to deploy the ZeroLag Moving Average Convergence/Divergence i.e. crossovers, overbought/oversold conditions, and divergences.
You may try them out to get comfortable with a strategy that best suits your trading habits.
The AUD/USD M30 chart below displays the ZeroLag MACD Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the blue histograms of the ZeroLag MACD Metatrader 5 forex indicator aligns above the zero signal level.
Sell Signal: Go short when the blue histograms of the ZeroLag MACD Metatrader 5 forex indicator positions below the zero signal level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the ZeroLag MACD indicator forms a blue histogram below the zero center line.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the ZeroLag MACD indicator pops up a blue histogram above the zero signal level.
Tips: The ZeroLag MACD indicator offers traders an important medium by which they can understand trend and this is just about the reason why the indicator is relevant to all types of forex traders out there in the market.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Fast Period, Slow Period, Signal Period, 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 zerolag_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)