Traditional MACD with Momentum Indicator and Alerts - MetaTrader 4 Script | Forex Indicators Download - MT4/MT5 Resource

joao nunez@neskk.com - 2015

Traditional MACD indicator with momentum indicator and alerts. Allows customization of most parameters without going deep into the code.

This is my MACD indicator and it has a well structured code so even a beginner can understand it and even modify it. I took the idea of ​​momentum from another indicator: https://www.mql5.com/en/code/11511 .

I want a traditional MACD indicator where:

Momentum lines are calculated by comparing two MACD values ​​with 10 bars in between. Momentum is then transferred to the moving average to make it smoother.

Since MACD 0 crossovers and momentum reversals can be important signals for traders, I have added two alerts, one for each of the above signals.

Note: These "alerts" are actually being printed on the Expert tab, if you want the alerts just uncomment the corresponding line in the code (instead of the print() function use alert() ).

I wanted to make this indicator user-friendly and customizable, so I added a lot of parameters:

Attachment download

📎 macd-neskk.mq4 (7.71 KB)

Source: MQL5 #13947