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.
Trading Signals
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.
Download
Download the FX5-MACD Divergence.mq4 indicator.
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.