MACD 2 Line Oscillator for MT4 Download - Free [TradingFinder]

The MACD 2 Line Indicator is an updated and advanced version of the "MACD" oscillator for Meta Trader 4.

This indicator improves trading signals by displaying two moving average lines (EMA) in different colors and a volume histogram separately from the price chart.

It also provides a zero line that helps traders easily identify overbought and oversold zones.

Specifications Table for the 2 Line MACD Indicator

This table includes some of the prominent features of the indicator:

Uptrend Conditions

The 4-hour Bitcoin (BTC) price chart demonstrates how the MACD 2 Line Indicator works under uptrend conditions.

As shown in Arrow 1, the fast EMA (blue line) first crosses the slow EMA (red line) from below, signalling the beginning of an uptrend and an opportunity to enter a long position.

As indicated by Arrow 2, both the fast moving average and the histogram are above the zero line.

Downtrend Conditions

The daily chart of the EUR/USD currency pair shows how the MACD 2 Line Indicator works under downtrend conditions. The arrow shows that the fast EMA (blue line) first crosses the slow EMA (red line) from above.

Crossing the blue line below the red line can signal to enter a sell position. Afterwards, both moving averages and the histogram are below the zero line.

Indicator Settings

The customizable features of the indicator for a better user experience are presented in this section:

• Fast Period: The fast-moving average line is set to 12;
• Slow Period: The slow-moving average line is set to 26;
• Signal Period: The exponential moving average (EMA) is set to 9;
• Price Mode: The moving average is calculated based on the closing prices of the candles;
• Average Period: The number of candles considered for calculating the moving average is 21;
• Moving Mode: Settings related to the type of moving average.

Conclusion

The MACD 2 Line Indicator (MACD 2 LINE) provides moving averages, volume histograms, and a zero line to help traders identify optimal entry and exit points.

This powerful indicator and other technical analysis tools, helps traders improve their strategy and analysis accuracy.