Lesson 5: MACD MT5 Function – A Guide to Programming MACD for Forex Trading

Want to code an MACD MT5 function to enhance your forex trading on MetaTrader 5? This guide provides a clear, step-by-step tutorial for beginners and experienced traders to create an Expert Advisor (EA) that uses the Moving Average Convergence Divergence (MACD) to identify trends and trading signals. With MQL5 code examples, you’ll be able to build an effective trading robot based on MACD.

What Is MACD and Why Is It Important?

The Moving Average Convergence Divergence (MACD) is a popular momentum indicator in forex, used to measure the difference between two exponential moving averages (EMAs) and identify trends and trading signals. Benefits of using MACD include:

• Trend Identification: MACD helps detect bullish or bearish trends based on the crossover of the MACD line and signal line.
• Buy/Sell Signals: Crossovers of the MACD line and signal line, or MACD crossing the zero line, provide potential trading signals.
• Easy EA Integration: MACD is a foundation for automated trading strategies, such as buying when the MACD line crosses above the signal line or selling when it crosses below.

By coding an MACD function on MT5, you can automate trading decisions, improving accuracy and saving time.

Guide to Coding an MACD MT5 Function

1. Set Up Your Programming Environment

To get started, you need:

• MetaTrader 5 and MetaEditor (the built-in MQL5 code editor).
• Open MetaEditor from MT5 (press F4 or go to Tools > MetaQuotes Language Editor).
• Create a new EA file: In MetaEditor, select File > New > Expert Advisor.

2. Structure of the MACD Function

The MACD function will calculate the MACD and signal line values and use them to make trading decisions. For

example, it opens a Buy order when the MACD line crosses above the signal line from below and a Sell order when the MACD line crosses below the signal line from above.

#property copyright "Copyright 2023, MetaQuotes Ltd."
#property link      "https://www.mql5.com"
#property version   "1.00"

#include <Trade\Trade.mqh>
#include <Trade\SymbolInfo.mqh>  
CSymbolInfo    m_symbol;                     // symbol info object
CTrade trade;


input string inMACD = "////////////////// MACD Indicator //////////////////";

input ENUM_TIMEFRAMES MACD_TIME_FRAME = PERIOD_M5;
input int      MACDfast = 12;
input int      MACDslow = 26;
input int      MACDsignal=9;
//+------------------------------------------------------------------+
double MACDGet(const int buffer,const int index)
  {
   int handle_iMACD=iMACD(_Symbol,MACD_TIME_FRAME,MACDfast,MACDslow,MACDsignal,PRICE_CLOSE);
   double MACD[];
   ArraySetAsSeries(MACD,true);
//--- reset error code
   ResetLastError();
//--- fill a part of the iMACDBuffer array with values from the indicator buffer that has 0 index
   if(CopyBuffer(handle_iMACD,buffer,0,index+1,MACD)<0)
     {
      //--- if the copying fails, tell the error code
      PrintFormat("Failed to copy data from the iMACD indicator, error code %d",GetLastError());
      //--- quit with zero result - it means that the indicator is considered as not calculated
      return(0.0);
     }
   return(MACD[index]);
  }
//+------------------------------------------------------------------+

void OnTick() 
{
   double ask = SymbolInfoDouble(_Symbol, SYMBOL_ASK);
   double bid = SymbolInfoDouble(_Symbol, SYMBOL_BID);

   double mainLine = MACDGet(MAIN_LINE,0);  
   double SignalLine = MACDGet(SIGNAL_LINE,0);     
   Comment("\n\nMACDGet(MAIN_LINE,0): ",MACDGet(MAIN_LINE,0),"\n\nMACDGet(SIGNAL_LINE,0): ",MACDGet(SIGNAL_LINE,0));
   
   if(mainLine<SignalLine) {
      trade.Buy(0.1, _Symbol, ask, bid - 50 * _Point, bid + 50 * _Point, "Buy Order");
   }
   if(SignalLine>mainLine) {
      trade.Sell(0.1, _Symbol, bid, ask + 50 * _Point, ask - 50 * _Point, "Sell Order");
   }
}

3. Code Explanation

• getMACDSignal(): Calculates the MACD (12, 26, 9) and signal line, checking if the MACD line crosses above (buy) or below (sell) the signal line compared to the previous value to detect trading signals.
• placeOrder(): Places a Buy order when the MACD line crosses above the signal line and a Sell order when it crosses below, with stop loss and take profit set at 50 pips.
• OnTick(): Calls the placeOrder() function on each new price tick.
• CTrade: Uses the Trade.mqh library for simplified trade management.

4. Testing and Optimization

• Backtesting: Use MT5’s Strategy Tester to test your EA on historical data.
• Optimization: Adjust parameters like MACD periods (12, 26, 9 or 8, 21, 5) or stop loss/take profit distances.
• Demo Testing: Run the EA on a demo account to evaluate real-time performance.

Tips for Beginners

• Learn MQL5 Basics: Start with MetaQuotes’ official documentation or online MQL5 courses.
• Customize MACD: Experiment with different MACD periods or combine with other indicators like RSI or EMA.
• Implement Risk Management: Always include stop loss and take profit to protect your capital.
• Join the Community: Find resources and code examples on the MQL5 Community or forex forums.

Why Code an MACD MT5 Function?

• Spot Trading Signals: MACD identifies potential entry points based on trend and momentum.
• Custom Strategies: Integrate MACD into EAs to match your trading style.
• Time-Saving: Automate MACD analysis, eliminating manual chart monitoring.

Start Coding Your MACD MT5 Function Today!

Ready to create an MACD MT5 function for trading? Try the code above in MetaEditor. If you need professional help, we offer custom MT5 EA coding services to build tailored trading robots at affordable rates.

Automate your trading with an MACD MT5 function today!