The MACD of QWMA Forex indicator designed for Metatrader 5 is an excellent signal oscillator composed of the MACD and QWMA technical indicators.
In case you didn’t know yet, QWMA is the abbreviation of Quadratic Weighted moving average.
It appears in a dedicated chart window as a green and orange colored line that dynamically oscillates above and below the 0 level.
The indicator is beginner friendly and does not repaint the signal line.
How to interpret the MACD of QWMA indicator?
- When the colored line is above the 0 level, it means there is a bullish market trend.
- When the colored line is below the 0 level, it means there is a bearish market trend.
The following indicator inputs and parameters can be customized: time frame, fast period, slow period, speed, price, signal alerts notifications.
The MACD of QWMA indicator works for any trading instrument (Forex, Stocks, Indices, etc.) supported by the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account before using it in a real trading account.
It supports all time frames and Forex pairs.
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The following chart shows how the MACD of QWMA indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The MACD of QWMA Forex Indicator?
Find a simple trading strategy below:
- A bullish signal is created when the colored line crosses back above 0 from below.
- Open a buy trade and place your protective stop order below previous swing support.
- Exit the buy trade for a fixed pip profit target of your preference.
- Optional: keep the trade open until the MACD of QWMA indicator crosses back below 0.
- A bearish signal is created when the colored line crosses back below 0 from below.
- Open a sell trade and place your protective stop order above previous swing resistance.
- Exit the sell trade for a fixed pip profit target of your preference.
- Optional: keep the trade open until the MACD of QWMA indicator crosses back above 0.
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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_of_qwma.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