MACD 2-Line Oscillator Download for MT4 - Free [TradingFinder] - MetaTrader 4 Resources

The MACD 2 Line Indicator is an updated and advanced version of the "MACD" oscillator for Meta Trader 4 .

This trading tool improves trading signals by displaying two moving average lines (EMA) in different colors and a volume histogram separate from the price chart.

It also provides a zero line to help traders easily identify overbought and oversold zones .

2-Line MACD Indicator Specification Table

The table includes some salient features of this indicator:

MACD 2 Line Indicator Overview

The MACD 2-line indicator uses moving averages (EMA) as well as histograms for trend analysis and signaling. Moving averages consist of fast and a slow lines, usually shown in blue and red . The histogram shows buying pressure in green and selling pressure above and below the zero line in red.

Uptrend Conditions

The 4-hour Bitcoin (BTC) price chart shows how the MACD 2-line indicator works during uptrend conditions.

As shown by arrow 1, the fast EMA (blue line) first crosses the slow EMA (red line) from below, marking an uptrend and an opportunity to enter a long position .

As indicated by Arrow 2 , both the fast moving average histogram is above the zero line.

downtrend conditions

The daily chart of the EUR/USD currency pair shows how the MACD 2-line indicator works during downtrend conditions. This arrow shows that the fast EMA (blue line) first crosses the slow EMA (red line) from above.

A blue line crossing below the red line may signal entering a sell position. Subsequently, both moving averages histograms are below the zero line.

Indicator Settings

This section describes the indicator’s customizable features for a better user experience:

• Fast Period: The fast moving average is set to 12;
• Slow Period: The slow moving average is set to 26;
• Signal Period: Exponential Moving Average (EMA) is set to 9;
• Price Mode: The moving average is calculated based on the closing price of the candle;
• Average Period: The number of candles considered when calculating the moving average is 21;
• Moving Mode: Settings related to the moving average type.

Conclusion

The MACD 2-line indicator provides moving averages, volume histograms, and a zero line to help traders determine the best entry and exit points.

This powerful oscillator and other technical analysis tools help traders improve their trading strategy and analysis accuracy.