MACDivergence MTF MT5
Advanced ideas of the popular MACD indicator:
- It detects and displays classic and reverse divergences (two methods of detecting divergences).
- It uses different color to highlight an uptrend and a downtrend.
- Two methods of determining a trend: а) MACD crosses the 0 level (classic signal); б) MACD crosses its own average (early signal).
- This is a multi-timeframe indicator: it can display MACD data from other timeframes.
- Two methods of drawing: classic histogram and line.
- It generates sound and visual signals when the trend is changed and the divergence is formed. It sends emails and push-notifications to mobile devices.
You can test the indicator's demo version here
This indicator is the full analogue of the "MACDivergence MTF" indicator for MetaTrader 4
MACD Parameters block
- Fast EMA period - fast EMA period.
- Slow EMA period - slow EMA period.
- Signal Line period - signal line period.
- Shift relative to the current TimeFrame (can be >0, <0, =0) - shift of the timeframe relatively to the current TF. 1 means higher by 1, 2 - higher by 2. -1 means lower by 1 period etc. For example, when the current period is M15, if you set the parameter to 1, the indicator will display MACD data on M30, and if you set it to -1, the indicator will display MACD data on M5.
- The style of drawing MACD - way of drawing MACD (histogram or line).
- MACD color change and Method of Divergence calculating - methods of determining a trend (MACD changes color) and detecting divergences (crossing the zero level (classic method) or crossing the signal line (earlier signal).
- Enable the Message about changing color of the MACD - enable/disable messages about change of the trend when the MACD crosses the zero or signal line.
- Show Classic Divergence - display classic divergences
- Show Reverse Divergence - display reverse divergences
- Draw Divergence Lines in indicator's subwindow - if allowed, divergences will be also displayed as lines in the indicator's window (complementary to signal arrows).
- Draw Divergence Lines in chart window - displaying divergence lines in the main window.
- Classic Divergence line style - style of classic divergence lines.
- Reverse Divergence line style - style of reverse divergence lines.
- Classic Bullish Divergence color - color of classic bullish divergence.
- Classic Bearish Divergence color - color of classic bearish divergence.
- Reverse Bullish Divergence color - color of reverse bullish divergence.
- Reverse Bearish Divergence color - color of reverse bearish divergence.
Notifications and Alerts
- ON/OFF – Sound when the signal sound signal
- Signal when the MACD changes color – name of the sound file played when the trend is changed (MACD changes color).
- Signal when the Divergence formed – name of the sound file played when divergence is formed.
- ON/OFF - Alert – enable/disable in the terminal when signals emerge
- ON/OFF - Mail – sending emails
- ON/OFF - Push – sending push notifications to mobile devices
- Language – language of messages (English or Russian)
The signals of the method are generated earlier than that of simple MACD and 0 intersection, but the number of false signal has also increased.
2. Adaptation to the new version of the terminal
1. Added the "Enable the Message about changing color of the MACD" parameter, which enables/disables sending messages about change of the trend when the MACD crosses the zero or signal line.
2. Many trades were confused that the indicator drew signal arrows at the peak of MACD, and the signal itself appeared much later, when the formation of that peak completed. That is, the signal arrow was drawn "in the past" when compared to the signal appearance time.
In this version, the divergence arrows have been moved from the MACD peak to the bar, where the signal appears.
3. The 'Enable Divergence' parameter (enable/disable all divergence signals) has been replaced by the 'Show Classic Divergence' (display classic divergences).
Thus, the indicator is now able to display the classic and reverse divergences separately using the 'Show Classic Divergence' and 'Show Reverse Divergence' parameters.