Both the MACD and the ADX are very popular indicators. This EA (expert advisor or automatic trading software) for Metatrader 4 combines these two indicators in an effective trading strategy.
This EA analyzes the entry timing carefully, so you can capture trends more accurately. Find out more about this "MACD ADX" EA and download it for free below.
The entry logic is checked only when a new candlestick is created. This EA will place a buy order if the following conditions are met:
- The previous ADX is greater than the ADX two bars ago
- The previous ADX is greater than the ADX level (defined in parameters)
- The previous plus DI is greater than the previous minus DI
- The previous plus DI is greater than the minus DI two bars ago
- The previous plus DI is above DMI level
- MACD is 0 or less
- MACD signal 0 or less
- MACD line is exceeding MACD signal line
- There are no buy orders currently
The entry logic for sell orders is the reverse of the above conditions.
For buy orders, the EA will process the position held in either of the following conditions (vice versa for sell orders):
- MACD and MACD signals are greater than or equal to 0 and MACD signal is higher than MACD
- If the stop loss set by the parameter is reached
This EA doesn’t necessarily have a high win rate. However, the profit of the winning trades is much larger on average than the losses of the losing trades. Although it may not be the most fun EA to use, still it can win quite well over a longer period if you look at it in total.
Note: Backtest results may be optimized. Also, the backtest results may differ from the trading results when using a live trading account. Please understand this point before using the EA.
Download the "MACD ADX" EA from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.