MACD 2Line MT4
The MACD 2 Line Indicator is a powerful, upgraded version of the classic Moving Average Convergence Divergence (MACD) indicator, now available for the MetaTrader 4 platform. This tool is the embodiment of versatility and functionality, capable of delivering comprehensive market insights to both beginner and advanced traders.
The MACD 2 Line Indicator for MQL4 offers a dynamic perspective of market momentum and direction, through clear, visually compelling charts and real-time analysis.
How to use for Traders:
(Reversal - Lines)
- Bullish divergence: Price makes Lower Lows and Lower Highs, Indicator Lines make Higher Lows
- Bearish divergence: Price makes Higher Highs and Higher Lows, Indicator Lines make Lower Highs
(Continuation - Histogram)
- Bullish convergence: Price makes Higher Highs and Higher Lows, Indicator Histogram makes Lower Lows
- Bullish convergence: Price makes Lower Lows and Lower Highs, Indicator Histogram makes Higher Highs
How to use for Developers:
Four Buffers: The indicator includes four buffers, enabling easy integration with other Expert Advisors (EAs) via the iCustom function.
- Main Line Buffer (Index - 0): Represents the MACD line, the difference between two exponential moving averages.
- Signal Line Buffer (Index - 1): This is the signal line, a moving average of the Main Line, providing potential buy and sell signals.
- Histogram Up Buffer (Index - 2): Marks the points where the MACD line is above the signal line, indicative of bullish market conditions when Histogram Up Buffer is greater than 0. (MACD Histogram is above 0)
- Histogram Down Buffer (Index - 3): Marks the points where the MACD line is below the signal line, reflecting bearish market conditions when Histogram Down Buffer is less than 0. (MACD Histogram is below 0)