The MACD Crossing The Zero Level Candle indicator for Metatrader 5 delivers precise buy and sell candles based on the MACD that crosses above and below the zero level.
The indicator is fairly easy to trade and suits both beginners and seasoned Forex traders.
Understanding the buy & sell candles:
- A blue colored candle indicates a market shift from bearish to bullish.
- A red colored candle indicates a market shift from bullish to bearish.
The following indicator inputs and parameters can be fully customized: fast EMA period, slow EMA period, signal SMA period, applied price, and crosses the zero level signal.
The MACD Crossing The Zero Level Candle indicator should work well as a standalone buy & sell trading tool, eliminating the need for dependence on additional technical analysis tools.
Make yourself familiar with this technical indicator and thoroughly test and evaluate it until you fully understand how it works.
It supports all time frames and Forex pairs.
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MACD Crossing the zero level (color candles).mq5 Indicator (MT5)
Chart Example
The following chart shows how the MACD Crossing The Zero Level Candle indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The MACD Crossing The Zero Level Candle Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is formed when the first blue colored candle gets displayed on the price chart.
- Open a buy trade and place a stop loss order below previous swing low support.
- Exit the buy trade for a fixed profit target, or wait for a sell signal (red colored candle).
Sell Signal
- A sell signal is formed when the first red colored candle gets displayed on the price chart.
- Open a sell trade and place a stop loss order above previous swing high resistance.
- Exit the sell trade for a fixed profit target, or wait for a buy signal (blue colored candle).
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MACD Crossing the zero level (color candles).mq5 Indicator (MT5)
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 MACD Crossing the zero level (color candles).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