​Anyone who is an FX trader has probably used the MACD at least once. The Moving Average Convergence Divergence, or MACD for short, is an indicator that can be called a classic trading tool.

It is not only simple, but it also generates very easy entry points. This “MTF_MACD” that we are introducing in this article is a variation of the MACD in an advanced form.

MTF MACD indicator for metatrader
Example of displaying a 4-hour MACD on the EuroDollar 1-hour chart

If you use this “MTF_MACD”, you can display the MACD of other timeframes. However, please be aware that displaying the MACD of the lower timeframe will not work properly. For example, displaying a 1-hour MACD on a 4-hour chart will not work.

Tips for use:

1. It is a good idea to place an order when the MACDs of the various timeframes all show the same signal.

For example, in the 30-minute chart example below, the 1-hour, 4-hour and daily MACDs are all giving a bearish signal. If you’ve put a sell order at this timing, you would have won and traded a high probability trade.

2. You may use this indicator to judge the trend.

For example, if the MACD value of various time frames is 0 or more, you can see that a strong trend occurs over various time frames.

Compatibility: MT4

Parameters:

  • TimeFrame  -  The timeframe used for indicator calculation
  • FastEMA  -  The period used for fast MA calculation
  • SlowEMA  -  The period used for slow MA calculation
  • SignalSMA  -  The period used for signal calculation
  • applied_price  -  The price used for indicator calculation

Download the "MTF_MACD" indicator from the button below

free download


Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Try WinRAR for Windows or The Unarchiver for Mac .


Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.





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