MACD-2 Indicator, MACD-2 Powerful Trend System
A more practical and attractive alternative to the MT5 standard MACD-2 Indicator. MACD-2 can also indicate entry points.
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Description
Regretfully, certain common MT5 indicators are not sufficiently equipped to assess shifting circumstances in the Forex market. The employment of robots and algorithms during trading is another factor contributing to this, in addition to the increase of actual players.
The free custom indicator MACD-2, an enhanced and modernised version of the regular MetaTrader 5 MACD oscillator, is what we are offering you. Additionally, the indicator can be a useful addition to your trading system regardless of the trading strategy you’re employing, whether it’s swing, intraday, or long-term.
Compared to the normal MACD, MACD-2 offers several benefits.
The indicator first displays coloured clouds, such as the slow and fast EMAs. When the colour of the cloud changes, entry signals are produced.
Second, there are four colours in the histogram volumes. You should only think about selling if the volume colour is brown or violet; you should only think about buying if the volume colour is blue or light blue.
The MACD-2 separates the indicator’s histogram volumes into bullish and bearish ones, and the clouded moving average offers a greater number of potential trading entry opportunities than the MACD, which only has one EMA and a common volume histogram.
How to trade with MACD-2 Indicator
We’ll examine a buy trade on the H1 timeframe to demonstrate how to use the MACD-2 indicator.
The uptrend line functions as an extra technical analysis tool in this case, as seen by the example above: we should only search for purchasing opportunities until it is broken below.
The blue histogram volumes, bullish trendlines, and the signal produced by the MA indicator all work together to provide buying-friendly conditions in the preceding chart.
A potential trade’s stop loss should be set above the trendline, and the position can be terminated after the maximum overbought readings have been reached.
Conclusion
An excellent substitute for the conventional MACD that you would like to utilise in your trade is the MACD-2 indicator. MACD-2 for MT5 uses the volume histogram and moving averages to produce technical analysis trading signals. The most lucrative trade entry points will always be visible to you because of the signals. Additionally, this indicator is available for free download and installation on Metatrader 5.
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Only the most important elements, the moving average periods, are included in the indicator’s settings. You can select the EMA periods in your trading system that provide the most effective signals for the indicator based on your trading strategy.
FastMACD: Sets the period for the fast moving average in the MACD calculation.
SlowMACD: Defines the period for the slow moving average in the MACD.
SignalMACD: Specifies the period for the signal line of the MACD.
PriceMACD: Selects the price type (Open, High, Low, or Close) used in MACD calculations.
After downloading and installing the indicator, it’s important to customize the moving average periods to match your trading strategy.
Paying attention to these settings can significantly enhance your trading accuracy and profitability, especially when using the MACD-2 indicator alongside your primary system or other technical tools.
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