The indicator is simple enough. When MACD is in positive area its values are shifted downwards by the amount of ATR, when MACD is in negative area, its values are shifted upwards.
Therefore, the resulting curve enters the same area with MACD only when the value of the latter one is big enough to cover the value of the trading range. Besides, this method allows users to track decreasing of ATR at the end of the movement – the resulting curve enters the area where MACD is located at the moment.
Blue line – result of MACD shift by ATR. Highlighted histogram bars indicate places where MACD and shift result have the same sign (±).
The additional condition for their emerging is MACD slope in the direction of the price movement.
MT5 Indicator – Download Instructions
iMACD±ATR is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
iMACD±ATR provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install iMACD±ATR.mq5?
- Download iMACD±ATR.mq5
- Copy iMACD±ATR.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on iMACD±ATR.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator iMACD±ATR.mq5 is available on your Chart
How to remove iMACD±ATR.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: