Moving Averages Convergence/Divergence Indicator
Info
The Moving Averages Convergence/Divergence Indicator is a Indicator for MetaTrader 5 that the moving averages convergence/divergence indicator is a technical indicator that calculates the difference between two moving averages. It is the difference between two exponential moving averages (fast EMA has period s and slow EMA has period r).
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Moving Averages Convergence/Divergence Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The Moving Averages Convergence/Divergence indicator is a technical indicator that calculates the difference between two moving averages.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Moving Average Dashboard MT5 - Professional EMA SMA Trend Analysis - another powerful indicator for MetaTrader 5 traders.
The Moving Averages Convergence/Divergence indicator is a technical indicator that calculates the difference between two moving averages. It is the difference between two exponential moving averages (fast EMA has period s and slow EMA has period r). The sign of the Moving Averages Convergence/Divergence indicates the relative position of the fast s-period EMA and slow r-period EMA. It is positive when EMA(s) is greater than EMA(r) and negative if EMA(s) is less than EMA(r). The increase of the absolute value of the Moving Averages Convergence/Divergence indicates the divergence of moving averages, the decrease of the absolute value indicates the convergence of EMAs. Calculation: The Moving Averages Convergence/Divergence is calculated by the formula: where price is the close price of the current period, EMA(price,r) is the slow EMA with period r applied to price, and EMA(price,s) is the fast EMA with period s applied to price. The formula of the Moving Averages Convergence/Divergence looks as follows: where price is the close price, EMA(price,r) is the 1st smoothing - slow EMA applied to price, EMA(price,s) is the 2nd smoothing - fast EMA applied to price, MACD(r,s) = EMA(price,s) - EMA(price,r) is the Moving Averages Convergence/Divergence, and EMA(MACD(r,s),u) is the 3rd smoothing with period u applied to MACD. Input parameters: r - period of the 1st EMA (slow) applied to price (by default r = 26), s - period of the 2nd EMA (fast) applied to price (by default s = 12), u - period of the 3rd EMA applied to MACD (by default u = 9), appliedprice - (by default appliedprice = price_close). Note: r must be greater than 1, s must be greater than 1, s must be less than r, u must be greater than 0, if u = 1, smoothing is not used, minimum rates = ([max(r,s)] + u - 2 + 1). To use this indicator, place the required files in the correct folders in the terminal data folder. - Place the indicator file in the terminal_data_folder\mql5\indicators folder. - Place the include file in the terminal_data_folder\mql5\include folder. This indicator is based on the Moving Averages Convergence/Divergence by William Blau, as described in the book, updated for 2026.Also recommended: Relative Moving Average (RMA) Indicator for MT5 - similar indicator with strong performance on MetaTrader 5.
You may also like: multi-timeframe moving average indicator (v03) - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include <williamblau.mqh> // include file (terminal_data_folder\mql5\include)
#property indicator_separate_window // indicator in a separate window
#property indicator_buffers 5 // number of indicator buffers used
#property indicator_plots 1 // number of plots
#property indicator_label1 "macd" // graphic plot label #0
#property indicator_type1 draw_line // draw as a line
#property indicator_color1 blue // line color.......
⚠ 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.