MACD Histogram Indicator (MT5) - Free Download - Best Forex Indicators

Introduction to the MACD Histogram Indicator

The MACD Histogram Indicator MT5 is a variation of a popular MACD indicator, but as the name suggests, it has added histograms to display the difference between the MACD and the signal lines. For the calculation of the MACD line, one can choose from the usual price types. For the calculation of the signal line, one can choose between Simple Moving Average or Exponential Moving Average. The histogram can be switched between single and multi-color.

The MACD Histogram 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.

When you load up the indicator in your MT5 trading platform, you will get chart similar to this:

This is the settings window, with the customizable inputs:

Trading rules the MACD Histogram indicator

These are the simplified trading rules the MACD Histogram indicator:

Go long when the blue signal line crosses above the red MACD signal line from below to the upside.
Go short when the short signal line crosses below the red MACD signal line from above to the downside.

Above are just basic rules. To use that gauge for successful trading, you will need to use it in conjunction with other technical analysis tools.

Buy trade example

Take a look at the example of long trade:

Sell trade example

Take a look at the example of short trade:

How to set up the MACD Histogram indicator in MetaTrader (MT5)?

Installation Guide

Download the MACD Histogram.rar archive at the bottom of this post, unpack it, then copy and paste the MACD Histogram.ex5 or MACD Histogram.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.

Summary Of That Forex Indicator

The MT5 MACD Histogram 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 indicators to try.