MACD Double Indicator for MetaTrader 4 – Free Download [TradingFinder]

The MACD Double Indicator in MetaTrader 4 is an advanced version of the MACD indicator that, by adding a higher time frame filter, provides more accurate trading signals.
This indicator visually displays the market trend through candle color changes and, based on these changes, determines the entry and exit zones for trades.

MACD Double Indicator Table

The general specifications of the MACD Double Indicator are presented in the table below.

MACD Double Indicator at a Glance

The MACD Double Indicator in MetaTrader 4 issues buy and sell signals through candle color changes, based on the MACD crossing the signal line or the zero line.
In this trading tool, a change in color from red to blue signals the beginning of a bullish movement, and a change from blue to red signals entry into a bearish trend.

Indicator in Bullish Trend

The price chart below shows the global gold ounce index with the symbol (XAU/USD) on the 5-minute timeframe.
In a bearish trend, candles are displayed in red. Later, with increasing buying pressure, the first blue candle appears. This change from red to blue signals the start of a new bullish trend and is considered a buy entry signal.

Indicator in Bearish Trend

The image below shows the digital currency index with the symbol (NEAR) on the 15-minute timeframe.
With the candle color changing from blue to red, a bearish signal is issued. This situation creates favorable conditions for entering sell trades.

MACD Double Settings

The image below shows the MACD Double Indicator settings panel:

• Fast_EMA: Fast Exponential Moving Average
• Slow_EMA2: Slow Exponential Moving Average
• MACD_SMA3: Simple Moving Average on the line
• Send_Email: Ability to send alerts to the user’s email
• Audible_Alerts: Enable sound alerts
• Push_Notifications: Send notifications when a signal occurs

Conclusion

The MACD Double Indicator in MetaTrader 4 is a suitable tool for identifying bullish and bearish trend reversals.
In this trading tool, blue candles indicate bullish trends, while red candles represent bearish trends; therefore, traders can simply monitor candle color changes to receive entry and exit signals.