Colored Zerolag MACD – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • This is the MQL5 version of ZeroLag MACD that was available for MetaTrader 4 here: https://www.mql5.com/en/code/9993

    Also there was a colored version of it here but it had some problems: https://www.mql5.com/en/code/8703

    I fixed the MetaTrader 4 version which has 95 lines of code. It took me 5 days to write the MetaTrader 5 version.(reading the logs and testing multiple times and finding out the difference of MetaTrader 5 and MetaTrader 4!)

    My first MQL5 version of this indicator had 400 lines of code but I optimized my own code again and now for reading all of the history it has around 290 lines of code!

    In My first MQL5 version of this indicator I used IMAonArray from MetaTrader 5 site and it used to take 8 seconds to load for the first time for calculating 700 candles!

    As MetaTrader 5 does not have iMAonArray and the code iMAOnArrayMQL4 from https://www.mql5.com/en/articles/81 has some loops with too much cycles, so I rewrote it.

    Also the time series in MetaTrader 5 is from old to new candles (from left to right) but in MetaTrader 4 the time array is set as timeseries by default, so it is from new to old (right to left). As the MQL4 version of the indicator was coded somehow that I couldn’t simply set arrays as timeseries (change their direction) and get the correct results in MQL5, so I had to change all the loops and write my own method to calculate all the candles of history for this MetaTrader 5 version.

    As the original code was free, I will share product for free in market too. hope it will be useful for getting faster signals than the traditional MACD.

    Indicator parameters

    • FastEMA – default is 12. the number for setting the faster EMA period.
    • SlowEMA – default is 26. the number for setting the slower EMA period. It’s value should be greater than the FastEMA.
    • SignalEMA – default is 9. The number for setting the period for calculating the Signal line which is drawn in blue color.

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window