Here’s another more useful version of the standard MACD indicator.
The real MACD indicator for MT4 plots two additional lines (blue and red) in a separated window below the main chart.
The indicator also draws the default histogram bars.
General Assumptions
Bullish Trend: Histogram above 0.00 and both blue and red lines above 0.00
Bearish Trend: Histogram below 0.00 and both blue and red lines below 0.00
Flat Trend: Histogram above 0.00 and both blue and red lines below 0.00 OR histogram below 0.00 and both blue and red lines above 0.00
Trading Signals
BUY: Blue line has crossed up the red line.
SELL: Red line has crossed down the blue line.
Use in combination with trending indicators/tools.
Download
Download the RealMACD.mq4 indicator.
Configurable Indicator Options
FastMAPeriod, SlowMAPeriod, SignalMAPeriod
AUD/USD 4 Hour Chart Example
How to install the Real MACD custom indicator in Metatrader 4?
- Download the RealMACD.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.