MACD 4 Color Indicator Download for MetaTrader 4 - Free - [Trading Search]

The MACD 4 Color Indicator The MACD indicator in MetaTrader 4 is the advanced version. In addition to showing trend direction, the MACD 4 Color indicator also uses four colors to show trend strength.

The color-coded MACD 4 color indicator is based on the slope of the moving averages. One of the best ways to detect the beginning or end of a trend is to use the MACD 4 Color indicator. This trading tool also uses divergence and convergence trading techniques.

Indicator Table

The specifications of the MACD 4C indicator are shown in the table below:

MACD 4 Color Indicator Overview

The color-coded MACD 4 color indicator is based on the slope of the moving averages.

In negative movement, a steep slope moving average (strong trend) is shown with dark red , while a gentle slope (weaker trend) is shown with light red. In positive movements , a steep slope is shown as light green , and a gentle slope is shown as dark green .

bullish trend conditions

The weakness of the downtrend in the histogram is indicated by light red, while the start of a strong uptrend is indicated by light green in the currency pair EUR/USD on the 15-minute time frame according to the price chart. After the uptrend ends, the fluctuations in the histogram appear dark green.

Bearish trend conditions

According to the price chart USD/CAD in the currency pair on the 1 hour time frame, weakness in the uptrend in the histogram is indicated by dark green and the beginning of a strong downtrend in dark red. After the downtrend ends, fluctuations in the histogram appear in light red.

Indicator Settings

The settings related to the MACD 4 color indicator are as follows:

• Fast EMA: The exponential moving average fast period is set to 12 ;
• Slow EMA: The exponential moving average slow period is set to 26 ;
• Signal SMA: The simple moving average signal period is set to 9 .

Summary

The MACD 4 Color Indicator The indicator in the MetaTrader 4 platform is a suitable choice for experienced traders due to its advantages over the traditional MACD in helping to identify trend direction and strength.

With the help of other indicators, such as RSI or Stochastic , one can make the final decision on the trading strategy . It should be noted that this oscillator is in the MT4 Volatility Indicator category.