In manual trading, watching how zero bar is forming makes you impatient in vain.
Zero bar is often out of control in automated trading, because it is considered as not-yet formed.
From these considerations, we concluded that it would be useless to display zero bar of the indicator due to false signals that occur while it was being formed.
However, it is possible and necessary to display the indicator signal line on zero bar, since this line is rather integrated, i.e., forecast functions of the signal line are retained on zero bar.
It is proposed to evaluate an indicator that does not display zero bar, but displays the signal line on zero bar.
The indicator is colored in the B. Williams’ AC/AO style.
If the next bar is below the preceding one, then the down-color=red.
If the next bar is above the preceding one, then the up-color=green.
MT4 Indicator Download – Instructions
MACD color is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
MACD color provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install MACD color.mq4?
- Download MACD color.mq4
- Copy MACD color.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on MACD color.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator MACD color.mq4 is available on your Chart
How to remove MACD color.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: