This indicator will plot divergence lines on the MACD indicator and will give buy and sell signal by displaying green and red arrows.
It also has a built-in alert function. As the original indicator, bullish divergence is plotted in green lines while bearish divergence is plotted in red. If the divergence is classic the line will be solid and if the type is reversed the line will be dotted.
Divergence indicator based on MACD, this is the conversion of the mql4 indicator https://www.mql5.com/en/code/7116. This is a total rewrite of the original indicator to improve performance and to correct a little bug. Also it’s more funny than simply converting it.
MT5 Indicator – Download Instructions
MACD Divergence is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
MACD Divergence 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 MACD Divergence.mq5?
- Download MACD Divergence.mq5
- Copy MACD Divergence.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 MACD Divergence.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator MACD Divergence.mq5 is available on your Chart
How to remove MACD Divergence.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: