The ALF MACD indicator for MT5 is an advanced version of the traditional MACD technical indicator.
The indicator uses an extra CMO component to delivers its easy to follow MACD Forex signals on the chart.
ALF MACD indicator buy and sell trends work as follows:
- A buy trend occurs when the ALF MACD MT5 indicator crosses its zero level upward. The gray histogram bars are now positioned above the 0.00 level.
- A sell trend occurs when the ALF MACD MT5 indicator crosses its zero level downward. The gray histogram bars are now positioned below the 0.00 level.
Use the ALF MACD technical indicator for scalping, day trading and swing trading purposes.
Feel free to experiment with the indicator’s different MACD and CMO input parameters to suit your preference.
Deploy this indicator on any currency pair, stocks, indices, Gold,…
Download This MT5 Forex Indicator Free
Download the “alf-of-oscillator.mq5” Metatrader 5 indicator
ALF MACD Forex Signal Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 5 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With ALF MACD Forex Signal Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Initiate buy order when the ALF MACD signals indicator crosses back above the zero level from below. The trend is now up.
Place stop loss 1 pip below previous swing support, or use your own stop loss placement method.
Exit the buy trade for a reward to risk 1.3:1 ratio or use a fixed profit target, for instance 12 pips on the 1-min scalper chart.
Alternatively, close and reverse the currency trade when the ALF MACD signals Metatrader 5 indicator crosses back below the zero level.
Sell Trigger: Initiate sell order when the ALF MACD signals indicator crosses back below the zero level from above. The trend is now down.
Place stop loss 1 pip above previous swing ressitance, or use your own stop loss placement method.
Exit the sell trade for a reward to risk 1.3:1 ratio or use a fixed profit target, for instance 25 pips on the 5-min day trading chart.
Alternatively, close and reverse the currency trade when the ALF MACD signals Metatrader 5 indicator crosses back above the zero level.
Download This Forex Indicator Now
Download the “alf-of-oscillator.mq5” MT5 indicator
Adjustable Parameters
Moving Average 1, Moving Average 2, CMO 1, CMO 2, signal, colors, width, style.
Usage
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT5
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: MACD trend
Installation
Copy and paste the indicator in the MT5 indicators data folder.
Then restart the MT5 terminal and attach it to any chart.
