It is better that you use a different name. If you name it #MACD, the # will put it at/near the top of the Custom indicators list.
If you re-code and replace one of the indicators supplied with MT4, when MT4 updates, the re-coded indicator will be replaced with the supplied indicator.
sounds reasonable, thanks your explanation @GumRai and I will use custom indicator instead of re-code it, thanks in advance!

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hi there,
Recently I have an idea, which modify the MACD indicator and replace the indicator reserved by system, after that I can use the menu -> insert -> indicators function to add my new indicator to chart. And I deleted all directories including ex4/mq4 files and the old MACD indicator still work, can anyone tell me which directory are the system reserved indicators belong to, and how can I do it.
Thanks.