MTF_MACD_Bars - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Semaphore signal indicator that displays a MACD histogram calculated based on the time range specified in the input parameters. The blue and pink bars correspond to the position of the histogram bars relative to the signal line. Above the signal line, uptrends are in blue and downtrends are in pink.
The red and green bars are used in a similar way with the following additional conditions: a growing trend with a histogram above zero - green bar, a downward trend with a histogram below zero - red.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on April 11, 2008.
Figure 1. MTF_MACD_Bars indicator
Attachment download
📎 mtf_macd_bars.mq5 (10 KB)
Source: MQL5 #1757
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