Introduction to the MACD Flat Trend Indicator
The MACD Flat Trend Indicator helps to recognize whenever the market is in an uptrend, downtrend, or being flat (sideways). When the MACD (Moving Average Convergence Divergence) Flat Trend indicator is loaded up, you will see green, red and gray bricks. The gray bricks reflect market indecision, in other words, the flat trend market taking place.
The MACD Flat Trend Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. 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.
How to set up the MACD Flat Trend indicator in MT5?
Download the MACD Flat Trend.rar archive at the bottom of this post, unpack it, then copy and paste the MACD Flat Trend.ex5 or MACD Flat Trend.mq5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL5 > Indicators (paste here).
Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The MACD Flat Trend indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT5 MACD Flat Trend Indicator
To download the MACD Flat Trend Indicator for Metatrader 5 (MT5) for free just click the button below: