The MACD Divergence indicator for MT4 provides trading signals based on positive and negative divergences between the currency price and the MACD trading indicator.
Red arrow means possible sell signal while green arrow below the main window means possible buy signal (going long).
EUR/USD 5 Min Chart Example
How to install the MACD Divergence custom indicator in Metatrader 4?
- Download the 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.