MACD 4 Color Indicator Download for MetaTrader 5 - Free - [Trading Search]

The MACD 4 Color Indicator (MACD 4C) is very useful for detecting trend direction and strength on the MetaTrader 5 platform. This indicator is an advanced version of the MACD indicator.

The MACD 4 Color not only shows the trend direction, but also the trend strength using four different colors based on the slope of moving averages .

Indicator Table

The table below shows the specifications of the MACD 4 color indicator:

MACD 4 Color Indicator Overview

In an uptrend, the MACD 4 color indicator shows trend strength in light green and trend weakness in dark red .
Conversely, in a downtrend, trend strength is shown in dark red , and trend weakness is shown in light red in the histogram. Using this oscillator in conjunction with other trading tools gives traders a broader view of price movements and changes.

MACD 4 color is in an uptrend

The price chart of the GBP/USD currency pair on the 4 hour time frame shows the MACD 4 Color indicator performing in an uptrend.

According to the chart, the weakness of the downtrend is plotted in light red in the histogram, and then the indicator starts showing the uptrend in light green . After the uptrend ends, the histogram clearly shows the weakness of the uptrend dark green .

MACD 4 color is in a downtrend

The price chart of the USD/CAD currency pair on the 1 hour time frame shows the MACD 4 Color indicator performing in a downtrend. According to the chart, the weakness of the uptrend is plotted in dark green in the histogram and then the indicator shows downtrend in dark red .

Indicator Settings

The image below shows the settings section of the MACD 4 Color Indicator:

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

Summary

The MACD 4 Color Indicator (MACD 4C) in MetaTrader 5 can effectively detect trend direction and strength. This Volatility Indicator for MT5 is much more advanced than the standard MACD and is particularly suitable for traders using convergence and divergence strategies.

By using 4 different colors in the histogram, this indicator clearly shows the strength of the trend. This tool can be used in all trading strategies and provides traders with flexibility.