MACD Slope Divergence - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The idea of this type of divergence check is explained here: RSI Slope Divergence . More information can be found in the original post
This indicator:
In this case it uses a linear regression channel on the MACD. Although MACD tends to "simulate" price changes better than some other indicators, using longer linear regression channel periods seems to yield usable results, so the default period for linear regression channels in this indicator is set to 100. However, some experimentation is recommended
In the same way as any divergence looking indicator - once you see the channel midline change color, you can take any action you would normally do when a divergence occurs.
Attachment download
📎 macd_slope_divergence.mq5 (18.46 KB)
Source: MQL5 #23340
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