Macd Four Color Histogram
- Indicatori
- Versione: 1.3
This indicator draws a four-color MACD histogram in a separate window. It helps you see both the direction of momentum and whether that momentum is getting stronger or weaker.
The MACD line uses EMA 12 and EMA 26 on the close price. The signal line is SMA 9 of the MACD line. The histogram is the MACD line minus the signal line. Bar colors show the side of the zero line and whether the current bar is larger or smaller than the previous bar.
Color meaning: Dark teal: above zero, histogram rising. Light teal: above zero, histogram falling. Light red: below zero, histogram rising. Red: below zero, histogram falling.
Features: Default periods are Fast 12, Slow 26 and Signal 9. You can show or hide the MACD line and the signal line. You can show or hide the zero level. Line colors can be changed in the inputs.
Parameters: Fast EMA period, default 12. Slow EMA period, default 26. Signal SMA period, default 9. Applied price, default Close. Show MACD line, default true. Show signal line, default true. Show zero level, default true. MACD line color, default DodgerBlue. Signal line color, default Orange.
Notes: This is a chart indicator. It does not open or close trades. Copy the compiled file to the MQL4\Indicators folder and attach it from Navigator. You can change the periods for different symbols and timeframes.
