MACD Double Indicator for MetaTrader 5 – Free Download [TradingFinder]

The MACD dual indicator in MetaTrader 5 is a more advanced version of the classic indicator MACD indicator which improves the accuracy of signals by using a longer time frame as a filter trading strategies .
This tool shows the direction and strength of market trends through candle color changes and identifies entry areas for buy and sell trades.

MACD double indicator table

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

MACD dual indicator overview

The MACD dual indicator in MetaTrader 5 generates buy and sell signals with the help of candle color changes. These signals are generated based on MACD crossing the signal line or crossing the zero line.

• Color change from red to blue: beginning of an uptrend (buy signal)
• Color change from blue to red: beginning of downtrend (sell signal)

bullish trend indicator

The price chart below shows the Nasdaq Index on the daily time frame with the symbol (Nd100).
When the market is in a downtrend, candles usually appear red. As buyer power increases, the first blue candle forms. A color change from red to blue indicates the beginning of a new bullish trend and is used as a suitable signal to enter a buy trade.

Bearish trend indicator

The chart below shows the Global Gold Ounces Index on the one-hour time frame with the symbol (XAU/USD).
When the color of the candle changes from blue to red, it indicates that the market is beginning to face downward pressure. In this case, this color change is considered a sell signal.

MACD dual setup

The picture below shows the setting panel of the MACD dual indicator:

• Fast EMA period: fast exponential moving average period
• Slow EMA period: Slow exponential moving average period
• Signal MA period: period of the signal moving average
• ALERT_ON_SIGNAL: Enable signal alert alert
• EMAIL_ON_SIGNAL: Send signal via email

Conclusion

MACD Double indicator (MACD Double) is one of the tools suitable for technical analysis to identify changes in market direction in bullish and bearish trends.
In this indicator, blue candles represent upward movement and red candles represent downward movement.