The MACD Slope Divergence MTF indicator for Metatrader 5 is a trading channel that delivers easy to spot buy & sell signals for any time frame.
The indicator draws a gray colored trending channel on the chart that can be used for both trade entry and exit signals.
The channel is based on MACD + linear regression.
How to spot bullish and bearish market trends with this indicator?
- An upward sloping channel is bullish.
- A downward sloping channel is bearish.
The indicator contains the following inputs and parameters: time frame, fast period, slow period, signal period, price, linear regression period, channel width, colors, interpolation.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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The following chart shows how the MACD Slope Divergence MTF Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MACD Slope Divergence MTF Indicator?
Find a simple trading example below:
- Price touches the lower channel’s boundary and the channel is sloping upward (bullish).
- Open a long trade and place your stop loss 5 pips below short-term support.
- Close the buy trade when price touches the upper channel’s boundary (resistance).
- Price touches the upper channel’s boundary and the channel is sloping downward (bearish).
- Open a short trade and place your stop loss 5 pips above short-term resistance.
- Close the sell trade when price touches the lower channel’s boundary (support).
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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 slope divergence (mtf).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