Name: MACD 2 Line Indicator
SKU: 41323
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Regrettably, certain built-in indicators within MT4 fall short when it comes to properly dissecting the volatile landscape of the Forex market. This inadequacy stems not merely from the rising number of individuals actively involved in trading, but also from the wider adoption of algorithmic trading systems and robots.

In light of these hurdles, we suggest looking into the free custom indicator, "MACD 2 Line," which acts as an advanced variant of the well-known MACD oscillator available within MetaTrader 4.

Super cool Forex indicator is here!!

Key Features:

MACD 2-Line Indicator: A Summary

This particular indicator presents two exponential moving averages (EMAs) accompanied by a histogram reflecting volume; this is situated in a separate pane beneath the principal price chart.

Also incorporated is a zero line; positions above it hint at an overbought state within the market, while regions below it suggest that the market is oversold.

Should the moving averages climb sharply above the zero line, this hints at an increased chance of a downturn. The reverse situation, where EMAs dip substantially beneath the zero line, increases the probability of a rally.

Since the MACD2Line indicator is structured as an oscillator, it is most helpful during trend transitions - both for major and minor market movements.

No matter your approach to trading (be it swing, intraday, or long-term), the MACD 2-Line can integrate seamlessly within your existing methodologies.

For intraday and swing traders utilizing shorter EMA durations, this indicator produces more frequent signals, potentially creating additional avenues for profit during short-term reversals.

Alternatively, traders focused on medium- and long-term periods utilizing longer EMA values can anticipate fewer signals; however, these tend to present greater dependability and preciseness.

2. Distinguishing Traits of the MACD2Line

The MACD2Line represents an enhanced iteration of the typical MACD indicator found in MetaTrader 4 (MT4). This advanced version presents a few noteworthy upgrades compared to its predecessor:

To begin with, the MACD2Line renders two exponential moving averages (EMAs). These consist of a faster EMA and a slower EMA, each shown in a unique hue. The faster EMA is depicted in blue, and the slower EMA is in red. Signals for trading are produced with any instance of the faster EMA intersecting with the slower EMA line.

Furthermore, the indicator incorporates a two-toned volume histogram. This enables distinct visualization of bullish and bearish market sentiments. Green bars highlight upward price movement, which suggests that buyers may find profitable entry points, whilst red bars imply downward price movement. Consequently, traders should watch out for chances to go short.

In the third place, the zero line of the MACD 2 Line indicator provides more distinct and reliable trading signals compared to its standard counterpart, making the tool a highly desirable companion for all traders.

In contrast to the conventional MACD, which possesses one EMA and a single-colored histogram, the MACD2Line delivers richer and more frequent entry signals, thanks to its dual-colored histogram and an additional moving average, potentially leading to more trading success.

3. Trade Notifications and Warnings

While the MACD 2 Line indicator can issue indications of buying or selling opportunities, traders can improve signal accuracy by integrating trendlines. To assist with this, we suggest employing the free custom indicator known as AutoTrendLines.

In the presented bearish example, a collection of signals strongly validate a Sell opportunity:

The Exponential Moving Average (EMA) resides in the overbought territory.
The histogram bars are colored red, suggesting ongoing selling momentum.
The rapid EMA descends below the slow EMA, which offers a distinct Sell initiation point.

These signals combined suggest a scenario with a high probability of bearish performance.

The inclusion of the AutoTrendLines indicator, which automatically draws trend lines, further supports the bearish perspective. When the price action and indicator data converge—for instance, when EMAs are at overbought levels and the histogram switches to red—traders may confidently initiate short positions.

For safer trading, a stop-loss can be positioned just above the trend line, with the consideration of exiting positions when the EMAs approach oversold boundaries.

To illustrate the MACD 2 Line's adaptability across multiple time scales, observe the subsequent example of a Buy notification on the M15 time frame:

In this bullish example, several indications are clearly synchronized. The EMA lines signify oversold environments, histogram volumes transition to green (indicating buying), and a bullish crossover appears as the rapid EMA climbs above the slow EMA. This composition creates a clear Buy initiation point.

Again, AutoTrendLines corroborates bullish force through an upward-sloping trend line. It's prudent to position your stop-loss slightly beneath this trend line for risk management, and to conclude the trade when the EMA approaches almost maximum overbought conditions.