• Overview
  • Reviews (6)
  • Comments (88)
  • What's new

Traditional MACD

The MACD indicator in MetaTrader 4/5 looks different than the MACD indicator in most other charting software. That's because the MetaTrader 4/5 version of MACD displays the MACD line as a histogram when it is traditionally displayed as a line. Additionally, the MetaTrader 4/5 version computes the Signal line using an SMA whereas according to MACD definition it's supposed to be an EMA. The MetaTrader 4/5 version also does not compute a true MACD Histogram (the difference between the MACD/Signal lines), this can be confusing for people new to MetaTrader 4/5 since the MACD line is displayed as a histogram.

This indicator displays MACD as it was defined by it's creator (Gerald Appel) and how it appears in other charting software. The MACD line is computed as the difference between a "fast" EMA and a "slow" EMA. The Signal line is an EMA of the MACD line. The MACD Histogram is the difference between the MACD/Signal lines (the MACD Histogram by itself can be used reliably for divergence signals).

T/F switches enable you to display/hide the MACD/Signal lines and the MACD Histogram.

Diogo Seca
2691
2016.09.10 17:07 
 

Works well!

Micaela Suter
368
2016.07.09 11:57 
 

A must for me!!

Nork
3494
2016.03.24 12:20 
 

User didn't leave any comment to the rating

Gennadiy Sidorov
1463
2014.05.15 07:52 
 

найс

Matt Johnson
80
2014.04.14 21:47 
 

Absolutely one of my favorite indicators! This is one of the best tools for determining a pivot point.

Vadim Strelkov
7871
2014.03.24 11:10 
 

User didn't leave any comment to the rating

Version 1.3 - 2015.11.25
- Corrected calculation bug that could cause slight re-painting of recent values.
= Corrected calculation bug of max/min indicator values when MACD/Signal lines and Histogram both displayed.
Version 1.2 - 2015.07.22
Added Classic and Hidden MACD Histogram divergence. Divergence occurs when there's a discrepancy between price movement and indicator movement. Classic Bullish divergence occurs when price makes lower lows yet the histogram makes higher lows (when histogram is below 0). Classic Bearish divergence occurs when price makes higher highs yet the histogram makes lower highs (when histogram is above 0). Hidden Bullish divergence occurs when price makes higher lows yet the histogram makes lower lows (when histogram is below 0). Hidden Bearish divergence occurs when price makes lower highs yet the histogram makes higher highs (when histogram is above 0). In order to have a true divergence, the histogram must twice cross the zero line (e.g. must rise above 0 and then fall below 0 for a bullish divergence).

T/F user inputs have been added to enable these new features. There are also new user inputs to control the line color and width of the divergence lines that are placed on the chart.
Version 1.1 - 2014.06.13
Color-coded MACD Histogram