The "MACDivergence MTF" indicator for Metatrader 5 platform
Advanced ideas of the popular MACD indicator:
- It detects and displays classic and reverse divergences (three methods of detecting divergences).
- It uses different color to highlight an uptrend and a downtrend.
- Three methods of determining a trend:
a) MACD crosses the 0 level (classic signal);
b) MACD crosses its own average (early signal);
c) the method offered by Elder in his book "The Strongest Signal in Technical Analysis".
- 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.
This indicator is the full analogue of the "MACDivergence MTF" for MetaTrader 4
To buy the indicator, please go to the MQL5 Market at the link: