MACD Double Indicator for MetaTrader 4 – Free Download [TradingFinder]

The MACD dual indicator in MetaTrader 4 is a MACD indicator that can provide more accurate trading signals by adding a higher time frame filter.
This indicator visually displays market trends through candle color changes and determines trade entry and exit areas based on these changes.

MACD double indicator table

The general specifications of the MACD dual indicator are shown in the table below.

MACD dual indicator overview

The MACD dual indicator in MetaTrader 4 sends buy and sell signals through candle color changes based on the MACD crossing the signal line or the zero line.
In this trading tool, the color change from red to blue indicates the start of a bullish trend, and from blue to red indicates the entry into a bearish trend.

bullish trend indicator

The price chart below shows the Global Gold Ounces Index on a 5-minute time frame with the symbol (XAU/USD).
In a bearish trend, candles appear red. Later, as buying pressure increases, the first blue candle appears. A change from red to blue marks the beginning of a new bullish trend and is considered a buy entry signal.

Bearish trend indicator

The chart below shows the digital currency index with the symbol (NEAR) on the 15-minute time frame.
As the candle color changes from blue to red, a bearish signal is given. This situation creates favorable conditions for entering a sell trade.

MACD dual setup

The image below shows the MACD dual indicator settings panel:

• Fast_EMA: Fast exponential moving average
• Slow_EMA2: Slow exponential moving average
• MACD_SMA3: Simple moving average above line
• Send_Email: Ability to send alerts to user's email
• Audible_Alerts: Enable audio alerts
• Push_Notifications: Send notifications when signals occur

Conclusion

The MACD dual indicator in MetaTrader 4 is a suitable tool for identifying bullish and bearish trend reversals.
In this trading tool , blue candles represent bullish trends and red candles represent bearish trends; therefore, traders only need to monitor candle color changes to receive entry and exit signals.