Cronex Impulse MACD MT5 Forex Indicator is one of the staple trading indicators that many traders use. It is an oscillating indicator that is derived from a couple of moving averages. What it does is that it measures the crossovers between the two moving averages and measures its separation. The bigger the separation, the stronger the trend.
MACDs excel in assessing mid to longer-term trends. This is because it tends to respond a tad slower than most oscillating indicators and at the same time it also has a smoother oscillation, which in my opinion smoothens out the noise in which some indicators are plagued of.
Timeframe: any
Currency Pair: any
Session: any
How to trade with Cronex Impulse MACD MT5 Forex Indicator?
This strategy is built around those signals and filters on the MACD plus a couple of high probability custom technical indicator.
The first technical indicator would be the Volty Channel Stop indicator. It is an indicator that plots lines above or below the price. It could be used for many purposes, either a stop loss placement, a trailing stop for exiting in profit, a trend direction bias filter, or an entry signal.
For this strategy, we will be using it as an entry signal or indication. A blue Volty line below price indicates a probably start of a bullish trend, while a red Volty line above price could be the start of a bearish trend. We will be taking trades only when a fresh Volty line has appeared.
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Buy (Long) Trade Setup Rules
Entry
- MACD histogram and the signal line should be above zero
- MACD histogram should be above the signal line
- Wilders DMI should print lime signal bars
- A fresh blue Volty line should be printed below the price
- Enter a buy market order on the close of the candle coinciding with the confluence of the above rules
Stop Loss
- Set the SL below the entry candle.
Take Profit
- Set the target take profit at 2x the risk on the stop loss
Sell (Short) Trade Setup Rules
Entry
- MACD histogram and the signal line should be below zero
- MACD histogram should be below the signal line
- Wilders DMI should print tomato signal bars
- A fresh red Volty line should be printed above price
- Enter a sell market order on the close of the candle coinciding with the confluence of the above rules
Stop Loss
- Set the SL above the entry candle.
Take Profit
- Set the target take profit at 2x the risk on the stop loss
How to download and install an indicator?
In order to install the indicator on your MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader5 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Cronex Impulse MACD MT5 Forex Indicator” template to apply it on the chart.
Note: This indicator was developed by Jack. AtoZ Markets does not carry any copyrights over this trading tool.
Should you trade Forex using Cronex Impulse MACD MT5 indicator on your own at all?
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