Wednesday, December 28, 2011

MACD for MT4 Indicator

Looking for MACD for Metatrader 4.0?

I will try to make a compilation in my spare time since MACD is such an important indicator in forex trading strategies and doing technical analysis. These should work on all brokers (ie fxpro ect) / version 4 trading terminals. If there are any problems leave a message. Some of these have alerts, some are colored + histogram, and some are good for trading divergence. Also I have included similar indicators in the list.

You can download for free here: (just click the slow download - I think the wait is like 20 seconds)

MACD True.mq4 Also called "Real MACD".
MACD_ColorHist_Alert 12 26 9 LA .mq4
JMA_MACD.mq4 jurik research?
MACD (DEMA) DiNapoli.mq4

Just add to your indicators folder and restart metatrader.

MACD was developed by Gerald Appel in the late 70's. Moving Average Convergence-Divergence (MACD)turns 2 moving averages into a momentum oscillator by subtracting the larger moving average from the shorter moving average. More correctly it is a "price momentum oscillator".

MACD fluctuates above and below the zero line as the moving averages converge, cross and diverge. MACD is unbounded, it is not particularly useful for identifying overbought and oversold levels especially since moving averages don't work that way.

MACD Line(Price Velocity): (12-day EMA - 26-day EMA)
Signal Line: 9-day EMA of MACD Line
MACD Histogram (Price Acceleration): MACD Line - Signal Line

12, 26 and 9 is the typical setting used by traders although they can be changed to give sharper or duller signals.

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