BB MACD

BB MACD MetaTrader indicator — is a basic MACD (Moving Average Convergence Divergence) indicator variation, which helps in detecting the trend change points and measuring the current trend's strength. The indicator is drawn in the separate window on the chart and consists of two lines (blue and red) and the dots, which can be either green or magenta. The change of the dots' color is a good signal provider, while the width of gap between the two lines indicates the strength of the current trend.

Input parameters:

• FastLen (default = 12) — the period of the fast moving average (the one with the lowest period), which is used in this indicator's dots calculations.
• SlowLen (default = 26) — the period of the slow moving average (the one with the highest period), which is used in this indicator's dots calculations.
• Length (default = 10) — the period of the moving average and the standard deviation indicators that are used in this indicator's lines calculations.
• barsCount (default = 400) — the maximum amount of bars on the chart to apply these calculations to (not an important parameter).
• StDv (default = 2.5) — weight multiplier for the standard deviation indicator in its part in the calculations compared to the moving average.

As the chart example suggests, the signals to buy are when the magenta dots turn into the green ones and the signal to sell is when the green dots become magenta. Trading is better to be performed when both blue and red lines are rather wide.

Downloads:

BB MACD in .zip

BB MACD in .mq4

Discussion:

Warning! Before you ask any basic questions regarding installation of the indicators, please, read this MetaTrader 4 Indicators Tutorial or MetaTrader 5 Indicators Tutorial to get the elementary knowledge on handling them.

Do you have any suggestions or questions regarding this indicator? You can always discuss BB MACD with the other traders and MQL programmers on the indicators forums.