MACD 2 Indicator for METATRADER 5

What is the MACD 2 Indicator?

The MACD 2 indicator is a MACD moving average convergence and divergence indicator. It is a technical momentum indicator that is based on the concept of moving average lines crossing.

How does the MACD 2 indicator work?

The MACD 2 indicator has two underlying Exponential Moving Average lines, the EMA. It then calculates the difference between the fast EMA line and the slow EMA line. The difference is then plotted in the MACD 2 window as the MACD line. It also calculates a simple moving average SMA derived from the MACD line, which is then plotted as the signal line.

The MACD 2 indicator shades the area between the MACD line and the lemon signal line whenever the MACD line is above the signal line and pink whenever the MACD line is below the signal line.

The histogram bars are basically the difference between the M A C D line and the signal line. This indicator plots violet bars whenever the bars are positive and rising indicating a strengthening uptrend, sky blue bars whenever the bars are positive and decreasing indicating a weakening uptrend, brown bars whenever the bars are negative and decreasing indicating a strengthening downtrend, and pink bars whenever the bars are negative and rising, indicating a weakening downtrend.

The M A C D 2 indicator has some variables that can be adjusted.

This MT5 indicator provides 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 movements and adjust their strategy accordingly.

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