The MACD signals indicator for the MT5 platform delivers its signals in the form of an accurate colored buy/sell histogram.
The basic trading rules for MACD are simple and explained below:
The trend is considered bullish when the MACD signals indicator trades above its zero level. Traders look for buy trade opportunities.
The trend is considered bearish when MACD signals indicator trades below its zero level. Traders look for sell trade opportunities.
The MACD signals indicator uses different settings than the traditional MACD indicator.
- For the MA fast period: 5
- For the MA slow period: 73
- For the MA signal: 13
Naturally, feel free to play with its default values.
The MACD signals indicator for Metatrader 5 can be used for scalping day trading and swing trading purposes.
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MACD Signals Indicator Chart
Here’s an example of how the MACD signals 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 MACD Signals Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade when the MACD Signals indicator turns back above the zero level from below.
A stop loss can be placed slightly below the previous swing low support, or use your own stop loss strategy.
Exit the buy trade when an opposite MACD sell signal appears on the trading chart, or you exit the buy trade at a fixed profit target of 1:1.5 reward:risk or better.
Sell Trigger: Open a sell trade when the MACD Signals indicator turns back below the zero level from above.
A stop loss can be placed slightly above the previous swing high resistance, or use your own stop loss strategy.
Exit the sell trade when an opposite MACD buy signal appears on the trading chart, or you exit the sell trade at a fixed profit target of 1:1.5 reward:risk or better.
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MA fast, MA slow, MA signal, applied price, sequence, colors, width, style.
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: trend
Copy and paste the indicator in the MT5 indicators data folder.
Then restart the MT5 terminal and attach it to any chart.