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MACD Trend Follower
The "MACD Trend Follower" is an indicator based on the MACD oscillator. It serves to spot the trend direction by giving it a fixed color until the trend changes (the trend direction colors are customizable).
The default MACD settings for the indicator has been changed to adapt to the fast moving Forex market, but they can be changed to suit the trader.
Recommended settings for the indicator :
- MACD Fast EMA : 8 Periods.
- MACD Slow EMA : 13 Periods.
- MACD SMA : 5 Periods.
Indicator inputs :
- MACD Fast EMA : The Fast EMA for the MACD. Default of indicator has been set to 8 Periods.
- MACD Slow EMA : The Slow EMA for the MACD. Default of indicator has been set to 13 Periods.
- MACD SMA : The MACD SMA. Default of indicator has been set to 5 Periods.
- Up Trend color : The color of the candles in an up trend.
- Down Trend color : The color of the candles in a down trend.
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