Area MACD: Unorthodox MACD Indicator Approach
Info
The Area MACD: Unorthodox MACD Indicator Approach is a Expert Advisor for MetaTrader 5 that an unorthodox approach to the macd indicator: this expert advisor calculates the indicator's area displayed above and below the zero line. Depending on the "Reverse Signal" parameter, either buy or sell positions will be opened.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Area MACD: Unorthodox MACD Indicator Approach
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
An unorthodox approach to the MACD indicator: This Expert Advisor calculates the indicator's area displayed above and below the zero line.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: easy range breakout ea for mt5 - another powerful expert for MetaTrader 5 traders.
An unorthodox approach to the MACD indicator: This Expert Advisor calculates the indicator's area displayed above and below the zero line.Also recommended: bi t e x. on e market maker - similar expert with strong performance on MetaTrader 5.
Depending on the "Reverse Signal" parameter, either buy or sell positions will be opened.Inputs:
- Stop Loss (in pips): Stop loss value.
- Take Profit (in pips): Take profit value.
- Trailing Stop (in pips): Trailing stop activation in pips.
- Trailing Step (in pips): Trailing stop step in pips.
- Lots (or "lots">0 and "risk"==0 or "lots"==0 and "risk">0): Lot size is set manually.
- Risk (or "lots">0 and "risk"==0 or "lots"==0 and "risk">0): Lot size is calculated dynamically.
- Number of Bars to Search for Indicator Area: The amount of bars on which the indicator's area is calculated.
- Reverse Signal: Enables or disables the reverse signal functionality.
MACD Parameters:
- Fast Average Period: Period for fast average calculation.
- Slow Average Period: Period for slow average calculation.
- Signal Period: Period for the difference averaging.
- Applied Price: Type of price to use for calculations.
- Lot Size Calculation Method Impact: Determines whether the lot size is constant or dynamic.
Figure 1. Constant Lot Size
Figure 2. Dynamic Lot Size
You may also like: professional close all positions panel - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.