Introduction to the MACD Divergence Indicator
The MACD Divergence indicator is a forex trading tool based on the well-known Moving Average Convergence / Divergence indicator.
It recognizes, spots, and displays divergences. Additionally, it will draw divergence lines. Reaction from these lines will be a good entry point.
The indicator is displayed in a separate window placed just below the main trading chart. It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
We give you 2 versions of MACD Divergence. The second one draws arrows after bullish or bearish divergence spotted. It is capable of discovering three types of divergences: classic, hidden and extended.
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How to set up the MACD Divergence indicator in MT4?
Copy and paste the macd-divergence.ex4 or macd-divergence.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The MACD Divergence indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
MACD Divergence Indicator Free Download
To download the MACD Divergence Indicator for Metatrader 4 (MT4) for free just click the button below: