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Macd Divergence Multicurrency Settings/Inputs Guide for MT4 & MT5

12 March 2026, 08:56

MT4 Version: MACD Divergence Multicurrency Scanner MT4

MT5 Version:

Complete User Documentation — MT4 & MT5

1. OVERVIEW

The MACD Divergence Multicurrency Scanner utilizes the MACD indicator to identify potential trading opportunities across multiple currency pairs simultaneously. It helps traders detect divergences, which can signal potential reversals or continuations in price trends, thus enhancing decision-making. This tool is particularly useful for traders looking to capitalize on market inefficiencies.

Who Should Use It: Forex traders who employ divergence strategies and wish to monitor multiple currency pairs efficiently.

Main Benefit: Streamline your trading process by quickly identifying divergence signals across various currency pairs, saving time and improving accuracy.

2. INPUT PARAMETERS & SETTINGS

This product shares a common set of general input settings with all Multi-Currency Scanner Dashboard products in this series. The following sections are covered in the common guide: General Settings (pairs list, dashboard colors, panel size), Timeframe Signal Settings (individual TF scan per symbol), Timeframe Confluence Settings (multi-TF confluence scan), and Alert Settings (popup, push notification, email). For full details refer to the Common Multi-Currency Scanner Dashboard Settings Guide. The sections below cover only the product-specific inputs unique to this product.

General Display Settings

This section covers the visual configuration of the scanner's dashboard, allowing traders to customize how information is presented.

Setting Name	Type	Default Value	Description	Example
Label Offset %	int	20	Adjusts the vertical position of labels on the dashboard, enhancing readability based on your screen size and layout preferences.	30 - Use this value for a more spacious layout on larger screens.
Line style	ENUM	STYLE_SOLID	See options explained below.	STYLE_DASHED - Choose this for a distinct visual separation of lines.
Line width	int	2	Modifies the thickness of the lines on the dashboard, allowing for better visibility based on personal preference or screen resolution.	3 - A thicker line may be beneficial for presentations or shared screens.
Background line	bool	false	Enables a background line for better contrast against the chart, which can enhance focus on specific indicators.	true - Use this setting if you prefer a clearer visual distinction.
Highlight to move	bool	true	Allows users to easily select and move elements on the dashboard, improving user interaction and customization.	false - Disable if you prefer a static layout without accidental adjustments.
Line's continuation to the right	bool	false	Extends lines to the right side of the chart, which can help in visualizing future price movements.	true - Use this for trend analysis to anticipate future price action.
Hidden in the object list	bool	true	Prevents the object from appearing in the object list, keeping the workspace uncluttered.	false - Use this if you want to manage all objects actively.
Priority for mouse click	long	0	Sets the priority for mouse interactions, allowing for better control over which elements respond to clicks.	1 - A higher value can help prioritize certain elements over others.
MACD Color	color	clrBlue	Sets the color of the MACD line on the dashboard, allowing for personal customization to enhance visibility.	clrRed - Choose this for a more striking visual representation.

Indicator Settings

This section details the parameters that define the MACD indicator's behavior and performance, crucial for accurate divergence detection.

Setting Name	Type	Default Value	Description	Example
MACD 1 Short Period	int	12	Defines the short-term EMA period for the MACD calculation, influencing sensitivity to price changes and potential signals.	10 - A shorter period may provide more signals but can increase noise.
MACD 1 Long Period	int	26	Sets the long-term EMA period for the MACD, affecting the indicator's lag and overall trend-following capability.	30 - A longer period may reduce false signals but also delay entries.
MACD 1 Signal Period	int	9	Determines the EMA period for the MACD signal line, crucial for generating buy/sell signals based on crossovers.	8 - A shorter period can lead to more frequent signals.
MACD 1 Applied Price	ENUM	PRICE_CLOSE	See options explained below.	PRICE_OPEN - Use this to analyze price action based on opening prices.
Minimum Bars between divergence	int	20	Specifies the minimum number of bars required between divergence points, helping to filter out insignificant signals.	15 - Reducing this might increase the number of signals but can introduce noise.
Maximum Bars between divergence	int	200	Sets the upper limit of bars between divergence points, allowing traders to control the scope of divergence analysis.	250 - Increasing this may help capture longer-term divergences.

Zigzag Settings

This section outlines the settings related to the ZigZag indicator, which assists in identifying support and resistance levels relevant to divergence analysis.

Setting Name	Type	Default Value	Description	Example
Support Resistance TF	ENUM	PERIOD_CURRENT	See options explained below.	PERIOD_H1 - Use this for identifying support and resistance on the hourly chart.
ZigZag Depth Lower	int	12	Defines the minimum number of bars to consider for ZigZag peaks and troughs, affecting sensitivity to price movements.	10 - A lower value may result in more frequent changes in direction.
ZigZag Deviation Lower	int	5	Sets the minimum price movement required to register a ZigZag point, helping to filter out minor fluctuations.	7 - Increasing this can help focus on more significant price movements.
ZigZag Backstep Lower

3. HOW IT WORKS

Core Calculation & Logic

The MACD Divergence Multicurrency Scanner calculates the MACD and its signal line across multiple currency pairs. It identifies potential buy and sell opportunities based on divergence patterns, which occur when the price action diverges from the MACD indicator.

This scanner helps traders spot market conditions that may indicate reversals or continuations, providing a technical basis for making informed trading decisions. By monitoring multiple pairs simultaneously, it enhances efficiency and accuracy in trading strategies.

How Signals Are Generated

A BUY signal is generated when the MACD line crosses above the signal line, indicating bullish momentum. Additionally, divergence between price and MACD strengthens this signal, suggesting a potential upward price movement.

A SELL signal occurs when the MACD line crosses below the signal line, indicating bearish momentum. Divergence in this scenario also reinforces the signal, suggesting a potential downward price movement.

The scanner can display signals for multiple timeframes, allowing traders to assess confluence across different periods for more robust trading decisions.

Step-by-Step Workflow

Step 1: Configure Settings Adjust the pairs list and display settings to match your trading preferences.

Step 2: Monitor Signals Observe the generated signals for each currency pair across the selected timeframes.

Step 3: Analyze Divergence Check for divergence patterns between price action and the MACD indicator to confirm potential trades.

Step 4: Execute Trades Based on the signals and analysis, execute trades in your trading platform.

Step 5: Review Performance Regularly review the performance of your trades and adjust settings as necessary for optimal results.

4. USAGE TIPS & BEST PRACTICES

Utilizing the MACD Divergence Multicurrency Scanner effectively can enhance your trading strategy.

Feature	Description
Pairs List	Customize the list of currency pairs to focus on those you trade most frequently.
Scan Last N Candle	Set the number of candles to scan for signals, allowing for flexibility based on market conditions.
Panel Height	Adjust the panel height to fit your screen and visibility preferences for better monitoring.
Arrow Size	Change the size of arrows to make signals more visible, enhancing quick decision-making.

5. IMPORTANT NOTES & WARNINGS

Known Limitations

Issue	Explanation
Signal Lag	Signals may lag due to the nature of the MACD, which is based on past price data.
Volatile Markets	In highly volatile markets, signals may be less reliable, leading to potential false entries.
Complex Settings	Over-customizing settings may lead to confusion and missed trading opportunities.

Settings Beginners Should NOT Change

Setting	Why to Leave Default
Pairs List	Default pairs are optimized for most traders; changing may limit effectiveness.
Scan Last N Candle	Default setting provides a balanced view of recent market trends.
Panel Height	Default height ensures optimal visibility and usability for most screens.

Dashboard Usage Tips

Regularly Update Settings: Adjust your pairs list and settings based on market changes.
Monitor Multiple Timeframes: Use signals from different timeframes for better confirmation.
Utilize Divergence Analysis: Look for divergence patterns to validate signals before trading.
Be Cautious with Signals: Always cross-check signals with other indicators for confirmation.
Stay Informed: Keep abreast of market news that may impact currency pairs you are monitoring.

Quick Start Guide

Follow these steps to get started in under 5 minutes:

Download and Install: Get the MACD Divergence Multicurrency Scanner from the marketplace.
Add to Chart: Attach the scanner to your preferred chart in MT4 or MT5.
Configure Pairs: Set up the pairs list according to your trading preferences.
Adjust Settings: Modify display settings for optimal visibility on your screen.
Start Scanning: Allow the scanner to analyze and generate signals for selected pairs.
Review Signals: Check the dashboard for buy and sell signals across timeframes.
Execute Trades: Place trades based on the signals and your analysis.