A semaphore signal indicator showing the MACD histogram calculated on the timeframe specified in the input parameters. Blue and pink bars correspond to the position of the histogram bars relative to the signal line. Above the signal line, a growing trend is colored blue, falling is pink.
Red and green bars are used similarly with the following additional conditions: the growing trend with the histogram above zero – green bars, the falling trend below zero with the histogram below zero – red.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 11.04.2008.
MT5 Indicator – Download Instructions
MTF MACD Bars is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
MTF MACD Bars provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install MTF MACD Bars.mq5?
- Download MTF MACD Bars.mq5
- Copy MTF MACD Bars.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on MTF MACD Bars.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator MTF MACD Bars.mq5 is available on your Chart
How to remove MTF MACD Bars.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: