MACD 2 Line Indicator

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MACD 2Line for MT4 generates technical analysis signals for trading based on moving averages and the volume histogram.

CATEGORIES: MT4, SIGNAL, OSCILLATOR
Updated on: 20.12.2023

Unfortunately, some standard MT4 indicators are not well enough geared to analyze changing situations in the Forex market. That’s not just because of the rise in the number of real participants, but also the use of robots and algorithms during trading.
As such, we offer you to learn about the free custom indicator MACD2Line, which is an updated and improved version of the standard MetaTrader 4 MACD oscillator.

Contents:
1. Description
2. Features
3. Trading signals (alerts)
4. Settings

1. Description MACD2Line

The MACD 2 Line indicator draws moving averages (Exponential Moving Average, EMA) and volume histogram in a separate window of the chart.

The indicator has a zero line as well. The entire space above the line is an overbought zone, while that below it is an oversold zone.

The higher the moving averages are above the zero line, the more likely it’s that the trend will reverse downwards. If the EMA is below the zero line, the higher the odds of reversing the trend upwards.

By default, the MACD2Line belongs to the group of oscillators. Therefore, one would better use the indicator when the global trend and the smaller trends change to the opposite ones.

No matter which trading approach you’re using – swing, intraday or long-term trading – the indicator can be a nifty complement to your trading system.
So, if you follow intraday and swing trading techniques and prefer smaller periods of EMA, the number of entry points will grow. Accordingly, the odds of opening profitable trades during reversals of short-term trends will be also higher.
If you prefer holding your positions open in the medium and long term, while increasing the periods of moving averages, you’ll get fewer entry points. But they can be more reliable!