Name: PTS MACD Divergence Box Indicator V1.0 MT4 - Free Download
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PTS MACD Divergence Box Indicator V1.0

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The PTS MACD Divergence Box Indicator V1.0 is a powerful technical analysis tool designed to identify and highlight potential price reversals by detecting divergences between price action and the MACD indicator. This user-friendly indicator automatically plots divergence boxes on your chart, allowing traders to easily spot bullish and bearish divergences.

Description

PTS MACD Divergence Box Indicator

The PTS MACD Divergence Box Indicator automatically scans and detects divergences between the price and the MACD. Unlike other divergence indicators, it marks green and red boxes directly on the charts. These boxes highlight potential trading opportunities based on divergences.

Key Features:

Divergence Detection: The indicator identifies regular bullish and bearish divergences in real-time.
Visual Representation: Divergences are drawn as green and red rectangles on the charts.
Timeframes: Suitable for timeframes ranging from M5 to H1.
Currency Pairs: Works well with GBPUSD, EURUSD, and XAUUSD.

Trading Strategy Using PTS MACD Divergence Box Indicator

The strategy involves using the PTS MACD Divergence Box Indicator to spot divergences and take trades. Here’s how it works:

Divergence Detection:
- The indicator plots a red box when price leaves that box, indicating a potential downtrend.
- Conversely, a green box suggests an uptrend.
Trade Execution:
- For a short trade (sell):
  - Wait for a red box to appear.
  - Once the conditions are met, trigger a sell trade.
  - Set the stop loss a few pips above the last swing high of the market.
- For a long trade (buy):
  - Look for a green box.
  - Execute a buy trade when the criteria align.
  - Set the stop loss accordingly.