The FX5-MACD Divergence indicator for MT4 finds divergences between the currency price and the MACD indicator.
The indicator provides buy signals for bullish divergences and sell signals for bearish divergences.
BUY: In up trends: Open buy position after green arrow appears on the FX5 chart.
SELL: In down trends: Open sell position after red arrow appears on the FX5 chart.
Use in conjunction with trend analysis tools to determine the primary trend.
Don’t use FX5-MACD divergences against the primary trend.
GBP/USD 4 Hour Chart Example
How to install the FX5-MACD Divergence custom indicator in Metatrader 4?
- Download the FX5-MACD Divergence.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.