MACD is a very powerful indicator. There are many pro traders who only use MACD in their trading. MACD is a momentum oscillator that can be used in a number of ways. One of the most powerful methods to use MACD is to spot divergences on it and then trade the market accordingly. You must be familiar with divergences. Divergence develops when the indicator and the price action move in the opposite direction. So if the price action is making a higher high, the indicator must be making a lower low. This results in a divergence signal.Now this FX5 MACD Divergence Indicator is being given FREE by Rita Lasker.
There are 2 versions of this FX5 Divergence Indicator. Version 1.0 is faster and can repaint. It should be used on H4 and D1 for an early signal. Version 1.1 is slower and gives the signal at the second bar which means it does not repaint. It should be used on M5, M15 and M30. Divergences are great leading signals. Unlike other lagging indicators when you use divergence correctly you have the chance to catch a big move right when it is starting. The user guide explains everything how to install the indicator and use it. First test it on the demo account.