MACD and ATR Signal Indicator
Info
The MACD and ATR Signal Indicator is a Expert Advisor for MetaTrader 5 that this indicator generates trading signals based on the moving average convergence divergence (macd) and average true range (atr) indicators. Indicator Calculation Block:range = atr_value;threshold = range * level;macd_difference = macd_main_line - macd_signal_line;previous_macd_difference = previous_macd_main_line - previous_macd_signal_line;Buy Signal Condition:Open a buy trade if the current MACD difference is greater than the threshold AND the previous MACD difference was less than the threshold.
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 MACD and ATR Signal Indicator
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
This indicator generates trading signals based on the Moving Average Convergence Divergence (MACD) and Average True Range (ATR) indicators.
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: GDS Renko RSI + MACD 4-Mode EA - another powerful expert for MetaTrader 5 traders.
This indicator generates trading signals based on the Moving Average Convergence Divergence (MACD) and Average True Range (ATR) indicators.Also recommended: Super Trend TV EA: Robust Signal Handling for MetaTrader - similar expert with strong performance on MetaTrader 5.
Indicator Calculation Block:
range = atr_value;
threshold = range * level;
macd_difference = macd_main_line - macd_signal_line;
previous_macd_difference = previous_macd_main_line - previous_macd_signal_line;
Buy Signal Condition:
Open a buy trade if the current MACD difference is greater than the threshold AND the previous MACD difference was less than the threshold.
Sell Signal Condition:
Open a sell trade if the current MACD difference is less than the negative threshold AND the previous MACD difference was greater than the negative threshold.
This indicator was updated in 2026.
You may also like: mq l5 wizard - trade signals based on three moving averages - 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.