BB MACD MetaTrader forex indicator — is a basic MACD (Moving Average Convergence Divergence) forex indicator variation, which helps detect the trend change points and measure the current trend’s strength. The indicator is drawn in a separate window on the chart and consists of two lines (blue and red) and dots, which can be either green color or magenta color. The change of the indicator dots’ color is a good entry signal provider, while the width of the gap between the two lines indicates the current trend’s strength. This indicator is available for forex MT4 and MT5.
Input parameters
- FastLen (main default = 12) — the period of the fast-moving average (the one with the lowest period), which is used in this forex indicator’s dots calculations.
- SlowLen (main default = 26) — the period of the slow-moving average sma (the one with the highest period), which is used in this forex indicator’s dots calculations.
- Length (main default = 10) — the period of the moving average(MA) and the standard deviation forex indicators that are used in this indicator’s lines calculations.
- barsCount (main default = 400) — the maximum number of bars on the chart to apply these calculations.
- StDv (main default = 2.5) — weight multiplier for the standard deviation indicator in its part in the calculations compared to the moving average.
- EnableNativeAlerts (main default = false) — if true, MetaTrader’s native pop-up alerts will be used on BB MACD color change.
- EnableSoundAlerts (main default = false) — if true, will use sound alerts on BB MACD color change.
- EnableEmailAlerts (main default = false) — if true, MetaTrader’s email alerts will be sent on BB MACD color change. should properly configure email in MetaTrader via Tools->Options->Email.
- EnablePushAlerts (main default = false) — if true, it will send MetaTrader’s push notification alerts to your device upon BB MACD indicator color change. Notifications should be properly configured in forex MetaTrader via Tools->Options->Notifications.
- SoundFileName (main default = “alert.wav”) — sound file name to play on alert if indicator EnableSoundAlerts is set to true.
As the mt4 chart example suggests, the signals to buy entry are when the magenta dots turn into the green ones, and the entry signal to sell is when the green dots become magenta color. Trading is better to be performed when both blue color and red lines are relatively wide.
BB MACD Forex Indicator Downloads
Discussion
Warning! If you do not know how to set up this forex indicator, please read the MetaTrader Indicators Tutorial.
Do you have any more suggestions regarding this forex indicator? You can always discuss BB MACD forex indicators with the other traders and MQL programmers on the indicators forums.
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