MTF MACD is a MetaTrader indicator based on well known MACD. Moving Average Convergence / Divergence, is a technical analysis indicator created by Gerald Appel in the 1960s. It shows the difference between a fast and slow exponential moving average (EMA) of closing prices. Additionally it has signal line which is simple moving average (SMA) of main value of indicator. MACD is a trend following indicator, and is designed to identify trend changes. It’s generally not recommended in ranging market conditions.
In MetaTrader we have MACD already included as a standard technical indicator. However it can be used only for current timeframe. When we are looking for trend, it is very desirable to have MACD showing higher timeframes. MTF MACD presented here has additional parameter – TimeFrame. You can use it to set up higher timeframe from which MACD will calculate its values. Because values are derived from bars, when using higher timeframes, you will notice rough shape of indicator lines.
MTF MACD settings:
Default value is 0 – means current timeframe. For other timeframes: 1=M1, 5=M5, 15=M15, 30=M30, 60=H1, 240=H4, 1440=D1, 10080=W1, 43200=MN1
Default value is 12. This is fast exponential moving average.
Default value is 26. This is slow exponential moving average.
Default value is 9. This is signal line and it is simple moving average.
Default value is 0 – means Close price used for MA calculations. For other types of price: 0-CLOSE, 1-OPEN, 2-HIGH, 3-LOW, 4-MEDIAN, 5-TYPICAL, 6-WEIGHTED.
Default value is 0. This parameter shifts whole indicator by Shift number of bars from set timeframe to the right on the chart.
MT4 Indicator Download – Instructions
MTF MACD is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
MTF MACD 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 MTF MACD.mq4?
- Download MTF MACD.mq4
- Copy MTF MACD.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 MTF MACD.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator MTF MACD.mq4 is available on your Chart
How to remove MTF MACD.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: