The MACD High/Low Forex Signal indicator for Metatrader 5 is based on a double exponential moving average and provides powerful buy and sell signals.
The indicator gets displayed as a blue and red colored oscillator line in a separate chart window.
The trade logic is very easy to understand and works as follows:
- The blue colored line represents a buy trend.
- The red colored line represents a sell trend.
The MACD High/Low indicator should work well as a standalone buy and sell signals tool.
The following indicator inputs can be modified: Fast DEMA period, slow DEMA period, signal period, look back period, early levels %, price.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time
It supports all time frames and Forex pairs.
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The following chart shows how the MACD High/Low indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MACD High/Low Signal Indicator?
Find a simple trading example below:
- A buy signal is formed when the blue colored MACD signal line gets displayed in the chart.
- Initiate a buy transaction and place a stop order slightly below technical support.
- Close the buy trade for a fixed profit target.
- Don’t wait for the MACD line to revert back to red color.
- A sell signal is formed when the red colored MACD signal line gets displayed in the chart.
- Initiate a sell transaction and place a stop order slightly above technical resistance.
- Close the sell trade for a fixed profit target.
- Don’t wait for the MACD line to revert back to blue color.
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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 Macd hl.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