"MTF_MACD" Indicator

Anyone who is an FX trader has probably used the MACD at least once. The Moving Average Convergence Divergence, or MACD for short, is an indicator that can be called a classic trading tool.

It is not only simple, but it also generates very easy entry points. This “MTF_MACD” that we are introducing in this article is a variation of the MACD in an advanced form.

Example of displaying a 4-hour MACD on the EuroDollar 1-hour chart

If you use this “MTF_MACD”, you can display the MACD of other timeframes. However, please be aware that displaying the MACD of the lower timeframe will not work properly. For example, displaying a 1-hour MACD on a 4-hour chart will not work.

Tips for use:

1. It is a good idea to place an order when the MACDs of the various timeframes all show the same signal.

For example, in the 30-minute chart example below, the 1-hour, 4-hour and daily MACDs are all giving a bearish signal. If you’ve put a sell order at this timing, you would have won and traded a high probability trade.

2. You may use this indicator to judge the trend.

For example, if the MACD value of various time frames is 0 or more, you can see that a strong trend occurs over various time frames.

Compatibility: MT4

Parameters:

• TimeFrame - The timeframe used for indicator calculation
• FastEMA - The period used for fast MA calculation
• SlowEMA - The period used for slow MA calculation
• SignalSMA - The period used for signal calculation
• applied_price - The price used for indicator calculation

Download the "MTF_MACD" indicator from the button below

Tip: Can’t open the downloaded archive file (ZIP or RAR)?

Try WinRAR for Windows or The Unarchiver for Mac .

Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.