The MACD Stochastic Square Forex Signal indicator for Metatrader 5 is a true trend indicator that combines MACD and Stochastic.
The indicator appears in a separate chart window as two rows of colored squares.
The first row displays the Stochastic signals and the second row the MACD signals.
When both signal colors match (blue or red), it’s time to go either long or short.
The following indicator inputs can be modified to suit your preferences: period for fast MACD average calculation, period for slow MACD average calculation, type of price, Stochastic period, smoothing, type of smoothing, and Stochastic calculation method.
Make yourself familiar with this solid technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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MACD Stochastic Square.mq5 Indicator (MT5)
Chart Example
The following chart shows how the MACD Stochastic Square Forex Signal indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The MACD Stochastic Square Forex Signal Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal occurs when both MACD + Stochastic squares are colored blue.
- Open a buy trade and place your stop loss 3 pips below swing low support.
- Close the buy trade for a reward/risk ratio of 1.5 or better.
Sell Signal
- A bearish signal occurs when both MACD + Stochastic squares are colored red.
- Open a sell trade and place your stop loss 3 pips above swing high resistance.
- Close the sell trade for a reward/risk ratio of 1.5 or better.
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MACD Stochastic Square.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the MACD Stochastic Square.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration