FX5 MACD Divergence Indicator
Platform: MT4 Type: Pattern Last update: September 23, 2024The FX5 MACD Divergence indicator draws divergence lines on the MACD indicator and will give buy and sell signals by displaying green and red arrows.
It also has a built-in alert function.
As the original indicator, bullish divergence is plotted in green lines while bearish divergence is plotted in red. If the divergence is classic the line will be solid and if the type is reversed the line will be interrupted.
We have also attached version 1.1 that is dedicated to traders who do not want repainted signals. The signals are not repainted buy they are delayed one candle.
How does it work? How to apply in trading?
Signals provided by the FX5 MACD Divergence Indicator are really intuitive and easy to understand. Simply follow the suggestions below.
Buy Entry: Open long trade after FX5 MACD Divergence provides bullish crossover. It should happen in conjunction with an upward arrow. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade after FX5 MACD Divergence provides bearish crossover. It should happen in conjunction with a downward arrow. Place your stop loss a few pips below the last swing high.
Exit Trade / Take Profit: Close your open position when an opposite arrow appears, or use your own method of trade exit.
