The Dsl MACD Forex indicator for Metatrader 5 is an improved version of the classic MACD indicator that includes the dsl filter for better trade entries.
The indicator appears in a separate chart window as green and red colored trade zones.
When these zones appear on the chart, you will need to open a buy or sell trade.
It’s basically that simple.
Buy and sell trends:
- The green Dsl MACD zone is a bullish signal.
- The orange Dsl MACD zone is a bearish signal.
The indicator tends to work the best for scalping and day trading Forex pairs.
The following indicator inputs and parameters can be modified: fast EMA period, slow EMA period, signal period, signal period, zones display mode.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the Dsl MACD indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Dsl MACD Forex Indicator?
Find a simple trading example below:
- A bullish signal occurs when the green Dsl MACD zone gets displayed in the bottom chart.
- Open a buy transaction and set your stop loss 5 pips below the previous swing low.
- Close the buy trade for a fixed take profit target, or wait for a sell signal.
- A bearish signal occurs when the orange Dsl MACD zone gets displayed in the bottom chart.
- Open a sell transaction and set your stop loss 5 pips above the previous swing high.
- Close the sell trade for a fixed take profit target, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Double Dsl MACD.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration