MACD 2 Line Oscillator for MT5 Download - Free [TradingFinder]

The MACD 2 Line Indicator (MACD 2 LINE) is a powerful and advanced version of the "MACD" indicator in Meta Trader 5.

This indicator displays two moving averages (EMAs) in blue and red colors and a volume histogram in a separate panel from the price chart.

Additionally, drawing a zero line helps to identify overbought and oversold zones.

Specifications Table for the 2 Line MACD Indicator

The tool's specification table provides a comprehensive overview of its features:

Uptrend Conditions

According to Arrow 1 on the 4-hour price chart of Bitcoin (BTC), the fast line (Fast EMA) crosses above the slow line (Slow EMA) and oscillates above the zero line.

The crossing of the fast line above the slow line signals the beginning of an uptrend.

Arrow 2 indicates the volume and formation of histogram bars above the zero line. If the histogram remains overbought, traders can stay in long positions.

Downtrend Conditions

According to Arrow 1 on the 30-minute price chart of Silver against the US Dollar (XAG/USD), the fast line (Fast EMA) crosses below the slow line (Slow EMA) and falls below the zero line.

The crossing of the fast line below the slow line indicates a downtrend. Based on Arrow 2, the histogram volume below the zero line is in the oversold area.

Indicator Settings

Users can use this section to customize the functionality of the tool:

• 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 and other technical tools enhance traders' precision in strategy and price chart analysis.

By providing information such as moving average line crossings and overbought and oversold volume, this indicator helps traders identify optimal entry and exit points.