The MACD 2 Line Indicator is a powerful, upgraded version of the classic Moving Average Convergence Divergence (MACD) indicator, now available for the MetaTrader 4 platform. This tool is the embodiment of versatility and functionality, capable of delivering comprehensive market insights to both beginner and advanced traders.
The MACD 2 Line Indicator for MQL4 offers a dynamic perspective of market momentum and direction, through clear, visually compelling charts and real-time analysis.
How to use for Traders:
( Reversal - Lines )
- Bullish divergence: Price makes L ower L ows and L ower H ighs, Indicator Lines make H igher L ows
- Bearish divergence: Price makes H igher H ighs and H igher L ows, Indicator Lines make L ower H ighs
( Continuation - Histogram )
- Bullish convergence: Price makes H igher H ighs and H igher L ows, Indicator Histogram makes L ower L ows
- Bullish convergence: Price makes L ower L ows and L ower H ighs, Indicator Histogram makes H igher H ighs
How to use for Developers:
Four Buffers: The indicator includes four buffers, enabling easy integration with other Expert Advisors (EAs) via the iCustom function.
- Main Line Buffer ( Index - 0 ): Represents the MACD line, the difference between two exponential moving averages.
- Signal Line Buffer ( Index - 1 ): This is the signal line, a moving average of the Main Line, providing potential buy and sell signals.
- Histogram Up Buffer ( Index - 2 ): Marks the points where the MACD line is above the signal line, indicative of bullish market conditions when Histogram Up Buffer is greater than 0. (MACD H istogram is above 0)
- Histogram Down Buffer ( Index - 3 ): Marks the points where the MACD line is below the signal line, reflecting bearish market conditions when Histogram Down Buffer is less than 0 . ( MACD H istogram is below 0)
