Traditional MACD indicator with a Momentum indicator and alarms. Allows customization of most of the parameters without having to dive into code.
This is my MACD indicator, it has well structured code so even beginners can understand it and perhaps modify it. I’ve grabbed the Momentum idea from another indicator:
I wanted a traditional MACD indicator where:
MACD line = FastEMA – SlowEMA
Signal = 9-day EMA of MACD
Histogram = MACD – Signal
The Momentum line is calculated by comparing two MACD values with 10 bars in between. Then Momentum is passed into a Moving Average to make it smoother.
Since MACD 0-crossovers and Momentum reversals can be important signals for traders, I’ve incorporated two alarms, one for each of the signals mentioned.
Note: These ‘alarms’ actually are being printed on Experts tab, if you want alerts, just uncomment the respective lines in the code (instead of Print() function use Alert()).
I wanted to make this indicator user friendly and customizable, so I’ve included a lot of parameters:
BarsToProcess — Self explanatory. Note: This affects the ability for the graph to render different time frames, at 1000 you can go up to 1D!
AppliedPrice — Price used to calculate MACD.
PeriodFastEMA — Period used to calculate fast moving average.
PeriodSlowEMA — Period used to calculate slow moving average.
PeriodSignal — Period analyzed to calculate the signal line.
SignalMA — Moving average method used to calculate the signal line.
DeltaMomentum — Distance between the two points analyzed to calculate the Momentum.
PeriodMomentum — Period analyzed to compute the moving average of the Momentum (Momentum smoothing).
MomentumMA — Moving average method used to calculate the smoothed Momentum.
AlarmZeroCrossover — Enables/Disables the alarm for MACD 0-crossovers.
AlarmMomentumReverse — Enables/Disables the alarm for Momentum reversals.
MT4 Indicators – Download Instructions
Traditional MACD with Momentum indicador and alarms is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Traditional MACD with Momentum indicador and alarms 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 Traditional MACD with Momentum indicador and alarms.mq4?
- Download Traditional MACD with Momentum indicador and alarms.mq4
- Copy Traditional MACD with Momentum indicador and alarms.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 Traditional MACD with Momentum indicador and alarms.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Traditional MACD with Momentum indicador and alarms.mq4 is available on your Chart
How to remove Traditional MACD with Momentum indicador and alarms.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
Download Metatrader 4 Trading Platform:
- Free $30 To Start Trading Instantly
- No Deposit Required
- Automatically Credited To Your Account
- No Hidden Terms
MT4 Indicators Download below:
Traditional MACD with Momentum indicador and alarms