Forex FX5 MACD Divergence Indicator
Forex FX5 MACD Divergence Indicator is an indicator for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around MACD (moving average convergence / divergence) and divergence between price and an oscillator. Its source code uses divergence checks and MACD. It draws arrows on the chart and can send alerts. It has 8 settings, for example separator1 (default *** MACD Settings ***), fast EMA (default 12) and slow EMA (default 26). Load it on a demo chart and check whether its signals repaint before trusting them. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex FX5 MACD Divergence Indicator
Forex FX5 MACD Divergence Indicator is an indicator for MetaTrader 4 based on Divergence and MACD. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 8 settings, such as Separator1, Fast ema and Slow ema. MQL source code included.
Files in the download: FX5_MACD_Divergence_V1_1.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Separator1 | *** MACD Settings *** | |
| Fast ema | 12 | |
| Slow ema | 26 | |
| Signal sma | 9 | |
| Separator2 | *** Indicator Settings *** | |
| Draw indicator trend lines | true | |
| Draw price trend lines | true | |
| Display alert | true | Turn this alert on or off |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: MACD · Divergence · Buy/Sell Arrows · Alerts · MT4 Indicator · MQL4 Source Code