MACD Squeeze Metatrader 5 Forex Indicator
The MACD Squeeze Metatrader 5 forex indicator is based on the MACD indicator.
While the indicator is made up of histograms that have signal labels attached to them along the center line, the indicators’ central idea allows for trading only when Bollinger bands are within Keltner Bands, thus forming trading zones.
The signal labels on the indicator gets colored when a trading zone gets formed.
In line with the aforementioned, the signal labels is the point where trading is carried out on the MACD added in the indicator, on other indicators of direction (moving average) or those of crossing by the price (Bollinger Bands), etc.
Incorporate this indicator in your scalping, day trading and swing trading forex strategies and systems to increase your successful trades.
The EUR/CAD M30 chart below displays the MACD Squeeze Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the green and red histograms of the MACD Squeeze Metatrader 5 forex indicator break and hover above the zero center line.
Sell Signal: Go short when the green and red histograms of the MACD MACD Squeeze Metatrader 5 forex indicator break and hover below the zero center line
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the blue signal label of the MACD Squeeze forex indicator pops up on the zero center line.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the blue signal label of the MACD Squeeze forex indicator pops up on the zero center line.
Tips: The MACD Squeeze Metatrader 5 forex indicator can be used as a standalone technical tool. It is based on the Bollinger Bands, Keltner Bands addition, alongside the MACD.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (MACD Fast EMA period, MACD Slow EMA period, Bollinger Bands period, Bollinger Bands deviation, Bollinger Bands Ma method, Keltner period, Keltner deviation, Keltner ATR period, Keltner MA method), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the MACD_Squeeze.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)