The MACD Indicator with Support & Resistance levels for Metatrader 5 delivers buy/sell signals and also draws S&R levels on the activity chart.
How do the buy and sell signals work?
- A blue colored MACD line is a buy signal.
- An orange colored MACD line is a sell signal.
The support and resistance levels are solely based on the MACD indicator and appear in the main chart as blue and orange colored lines.
The indicator contains the following inputs and parameters: fast MACD period, slow MACD period, signal period, price, and colors.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
Free Download
Chart Example
The following chart shows how the MACD indicator with Support & Resistance looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MACD Indicator with Support & Resistance Levels?
Find a simple trading example below:
Buy Signal
- A blue colored MACD line is a buy signal.
- Open a buy transaction and place your stop loss 3 pips below most recent support.
- Close the buy trade for a fixed profit target, or wait for a sell signal.
Sell Signal
- An orange colored MACD line is a sell signal.
- Open a sell transaction and place your stop loss 3 pips above most recent resistance.
- Close the sell trade for a fixed profit target, or wait for a buy signal.
