The MACD Slope Divergence indicator for Metatrader 5 is a powerful Forex system that combines MACD and a linear regression channel.
The linear regression channel provides trend direction and the MACD indicator delivers the buy & sell trading signals.
How to identify the overall market trend with this tool?
- An upward sloping regression channel indicates a bullish trend.
- A downward sloping regression channel indicates a bearish trend.
The indicator contains the following inputs and parameters: fast period, slow period, signal period, linear regression period, linear regression channel width, colors, and style.
Make yourself familiar with this technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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MACD slope divergence.mq5 Indicator (MT5)
Chart Example
The following chart shows what the MACD Slope Divergence indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MACD Slope Divergence Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the regression channel is sloping up (bullish) and MACD crosses back above the gray dotted middle line from below.
- Open a buy trade and place a stop loss 3 pips below the previous swing low zone.
- Close the buy trade for a risk/reward ratio of 1:2, or use your own take profit strategy.
Sell Signal
- A sell signal is given when the regression channel is sloping down (bearish) and MACD crosses back below the gray dotted middle line from above.
- Open a sell trade and place a stop loss 3 pips above the previous swing high zone.
- Close the sell trade for a risk/reward ratio of 1:2, or use your own take profit strategy.
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MACD slope divergence.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 slope divergence.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