My trading improved substantially once I deleted all the indicators off my charts. Not to everyone's taste of course but the fewer the number of indicators, the clearer things are for the trader, but this is just my humble opinion...
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Joined Dec 2018
|161 Posts
In my opinion, the best indicator you can use in Metatrader 5 - is the BB MACD (Moving Average Convergence Divergence) indicator. BB MACD is a combination of MetaTrader MACD indicators and Bollinger Bands into a single indicator. When the MACD indicator is represented by green or purple dots, it changes its color - this is most likely a good trading signal. The strength of these signals is estimated by the width of the gap between two lines: blue and red. The MACD indicator line is used as the center line of Bollinger bands - they are displayed as a dotted line, therefore, they are calculated as a simple deviation of the bands for this line. In general, this mode of the original MACD can be very useful and interesting, as it greatly simplifies reading of trading signals.
