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Traditional MACD MT4

MACD indicator in MetaTrader 4/5 looks different than MACD does in most other charting software. That is 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, while according to MACD definition it is 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 and no true MACD histogram is available.

This indicator displays MACD as it was defined by its 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).

True/False switches enable you to display/hide the MACD/Signal lines and the MACD Histogram.

catkin
12
2017.03.21 11:38 
 

Hi Daniel,

Could you mind share your "Traditional MACD MT4" source code to me?

My E-mail address is: tony.song.2010@gmail.com

It's a great indicator, thank you for your share!

Maksym Mudrakov
9725
2016.08.30 11:56 
 

User didn't leave any comment to the rating

Karsten Keller
19
2016.06.20 22:07 
 

Great indicator!

vahid jannati
2158
2016.03.03 19:27 
 

follow the trend and repainting signals

astrafx
248
2016.02.17 20:22 
 

This is my first review in mql store. I use it on my live charts, with vsa and dynamic trend is invincible. It's the secret ingredient that makes you a better trader, and it's for free... unbelievable. Many, many thanks for the author.

M. Danial
132
2016.01.22 17:13 
 

User didn't leave any comment to the rating

Rodrigo da Silva Boa
7107
2015.12.03 04:28 
 

User didn't leave any comment to the rating

Vadim Macarov
53
2015.07.12 09:23 
 

good inidicator. please separate divergence alerts to line 0 above below alerts

zhang yi
509
2015.06.05 02:21   

Hi, Daniel

Can you share your free indication "Traditional MACD MT4" mq4 file to me ?

I live it, pls send my E-mail:zhangyi9984@gmail.com

Thanks for your share !

Martin
48
2014.09.05 11:47 
 

Great indicator!

Pavel Pavlov
513
2014.08.09 21:28 
 

отлично! есть все уведомления! автор молодец! отличная работа!

Version 1.3 - 2015.12.11
- 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.
- Decreased load time for charts with large number of bars.
Version 1.2 - 2015.06.22
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 - 2014.09.04
Added alerts for MACD line crossing Signal line.

New user inputs:

- Issue Alert When MACD Line Crosses Signal Line: T/F switch to enable/disable alerts (must be true for any alert type listed below to work).
- Alert on Bar Close Only" T/F switch to enable/disable checking for cross at bar close only.
- Chart Alert: T/F switch to enable/disable pop-up alert on chart.
- Audio Alert: Plays sound (if valid audio filename specified).
- E-mail Alert: T/F switch to enable/disable sending e-mail alert (only works if "Email" tab on Tools/Options menu is configured properly).
- Smartphone Alert: T/F switch to enable/disable sending push notification (only works if "Notifications" tab on Tools/Options menu is configured properly).