2 Line MACD Indicator for MT4
Welcome on our Best MT4 Indicators website! The significance of proper use of resourceful Technical Indicators in trading the financial market cannot be overemphasized. Every technical trader seeks to make use of an Indicator that will positively influence his trading positions while making profits. Indicator trading is being employed by several traders to enhance their chances of reducing losses to the barest minimum. 2 Line MACD Indicator for MT4 is a technical indicator known as 2 Line Moving Average Convergence Divergence Indicator, which works on an MT4 Trading platform.
In this post, we will describe this Indicator in detail; how to use it as a trading strategy, as well as how to install and set it up to improve the education and trading skillset of a trader. So you can see yourself if this one makes our TOP 10 MT4 Indicators page.
What is 2 Line MACD Indicator MT4?
The 2 Line MACD Indicator, in short, is a technical indicator that assists in identifying the trend as well as its strength, and the possibility of the trend reversal.
It is a widespread forex technical indicator that is made of three essential components, i.e.
1. MACD histogram
2. MACD: 12-period exponential moving average (12 EMA) – 26 period EMA
3. MACD Signal Line: the 9-period EMA of the MACD.
This Indicator is one that ensures a trader stays profitable over a long period in the market.
The Chart below shows a pictorial example of a 2 Line MACD indicator for MT4 in a market:
2 Line MACD is an indicator that can be applied with any forex trading strategies/systems for further confirmation of trading exits or entries. Its essence is to transform the amassed history data.
The Indicator provides for a prospect of detecting various patterns and peculiarities in price activities which are not visible.
Established on this information, forex traders can adopt further price movement and modify their strategy accordingly.
Indicator for MT4 Forex Trading Strategy
Our human emotions can have the better of us when we are trading the live markets, so there is a vital need for a trader to take a trading position with a very rock-solid plan which is free of any emotions.
The ultimate plan will be to remain profitable in the long run, and the 2 Line MACD Indicator will help a trader accomplish just that.
The Indicator’s setup is pretty plain and just about anybody will be able to quickly adopt them and plug same into their forex trading toolbox.
MT4 Indicators: 2 line MACD.ex4 (Modified Variable Input; Slow MA Period=36, Fast MA Period=18 and Signal MA Period=12)
Ideal Time Frames: 1-Minute (1M), 5-Minute (5M), 15-Minute (15M), 30-Minute (30M), 1-Hour (1H), 4-Hour (4H), 1-Day (1D).
Currency Pairs: Any
Suggested Trading Sessions: Any
Example of Buy Trade
Make a buy entry if the Indicator displays the following:
1. When the blue line of the Indicator breaks beyond the 0.00 level, as seen in Fig. 1.0, the market sentiment is seen to be slightly bullish, i.e. we have a signal to buy the designated currency pair.
Buy Entry Stop Loss: Put stop loss one (1) pip below support.
Take Profit for Buy Entry/Exit Strategy
Take profit or exit if the following conditions or rules takes place:
2. If during a buy (long) alert, the blue line of the 2 line MACD indicator crosses the red dotted line in a top descending manner, bull’s power is said to be dissuading, as such a take profit or exit will suffice.
Rules for Sell Entry
Take a sell position if the following happens:
3. The blue line of the Indicator falls below the 0.00 mark, as shown in Fig. 1.0, a bearish trend is imminent; hence you go ahead and initiate to sell the specified currency pair.
Sell Entry Stop Loss: Put stop loss at one (1) pip above resistance.
Take Profit for Sell Entry/Exit Strategy
Take profit or exit if the following scenario plays out:
1. The blue line of the 2 line MACD indicator MT4 crosses the red dotted line in a bottom-to-up manner as displayed in Fig. 2, bear’s power is said to be waning, so a take profit or an exit will do.
Example of Sell Trade
Indicator ytg_DveMashki_ind by Satop is installed in the Chart above.
ytg_DveMashki_ind Indicator is convenient for visual observation of MACD on the price chart. Its signal lines have been included, which can use two lines, but the typical MACD has one line.
This addition will be very useful to all traders.
How to install the Indicator for MT4.mq4?
1. Download 2 Line MACD with Signals – Indicator for MT4.mq4
2. Copy 2 Line MACD with Signals – indicator for MT4.mq4 to the Meta trader Directory/experts/indicators/
3. Restart your MT4 Client
4. Choose Timeframe and Chart where MT4 indicators will be tested
5. In your Navigator, search “Custom Indicators” mostly left in your MT4 Client
6. Then right-click on 2 MACD with Signals – Indicator for MT4.mq4
7. Next thing to do is attach to the Chart
8. Press ok or Change settings
9. Indicator 2 MACD with Signals – Indicator for MT4.mq4 is now obtainable on your Chart
Conclusion on 2 Line MACD Indicator for MT4
2 Line MACD Indicator for MT4 is one of the amazing tools every forex trader that wishes to succeed in his trade should possess. It helps you in making profits from the market in the long run. Apart from being easy to understand, the indicator is seamless to set up. So you can look up our installation guideline once again for doing it smoothly.
Great as the Indicator is, it is recommended that it should be used in combination with other indicators and trading tools to work with a very balanced and assured trading weapon. BTW next time we will publish a detailled Waddah Attar Explosion indicator review article! Stay tuned 😉
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