MACD True Alerts Indicator
The MACD True Alerts indicator for MT5 is an advanced version of the traditional MACD, optimized for market direction as well as trend reversal detection.
Description
The MACD True Alerts indicator for MetaTrader 5 is an advanced version of the MACD optimized for determining market direction as well as detecting trend reversals. It comes with a slight modification to the regular MACD on the MT5 platform, making it effective for more accurate market interpretation.
This version of the indicator is built with an additional line, which is more sensitive to changes in the market. The line changes between green and red to signal a bullish and bearish trend respectively.
In addition, the intersection of both up/down lines is used to show changes in the direction of the trend in the market. However, it is recommended to take a buy/sell signal only when the indicator lines cross above/below the zero line.
In addition, the indicator is also recommended to be used in conjunction with price action/other technical trading tools as a confluence before making any trading decision. In addition, I am also ideal for both beginner/intermediate and advanced forex traders.
How to Trade With the MACD True Alerts Indicator
The image above shows the action of the indicator on the EURUSD currency pair on the M30 timeframe. It illustrates how a buy signal was identified using the synergy of the indicator and price action.
The image shows that the indicator lines have moved up, which suggests a possible trend reversal. In addition, the dynamic line also changed color to green and also crossed the zero level of the line. Finally, the price retested the demand zone and closed with a bullish bar, signaling a buy entry.
Conclusion
The MACD True Alerts indicator for MT5 is an advanced version of the traditional MACD optimized for buy/sell and entry signals. Finally, it’s free to download.