Introduction to the Three Moving Averages Convergence/Divergence (MAxCD) Indicator
The Three Moving Averages Convergence/Divergence (MAxCD) indicator also known as MAxCD, is a signal oscillator that consists of three moving averages.
This forex indicator draws three colored histogram bars that float above and below the zero level. Each color of the histogram bar represents each moving average.
The readings of that gauge are really easy to follow, simply a bullish trend occurs when all 3 histogram bars are aligned above the zero level. Similarly, bearish trend occurs when all 3 histogram bars are aligned below the zero level.
To increase the performance we suggest using it with some other filters.
It fits all kinds of timeframes and currency pairs.
The indicator 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 Three Moving Averages Convergence/Divergence (MAxCD) indicator in MT4?
Copy and paste the MAxCD.ex4 or MAxCD.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 Three Moving Averages Convergence/Divergence (MAxCD) 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, 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.
Three Moving Averages Convergence/Divergence (MAxCD) Indicator Free Download
To download the Three Moving Averages Convergence/Divergence (MAxCD) Indicator for Metatrader 4 (MT4) for free just click the button below: