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MACD 4C

The MACD 4C Indicator for MT4 is a customized MACD. The indicator detects the trend and momentum of a currency pair and displays it on the chart using four different colors.

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Description

The MACD 4C indicator for MT4 is a modified version of the traditional MACD indicator on the MetaTrader platforms. Generally, the MACD is popularly used in the financial market for analyzing different market conditions. It’s an incredible indicator for detecting changes in market momentum, trend direction, potential reversal, and entry zone.

How do I get MACD on MetaTrader?

MACD is one of the traditional indicators available by default on the MetaTrader platforms. Simply go under the “Indicators” section and insert it on your chart. However, we recommend you download the MACD4C Indicator for MT4 and apply it to your chart for optimal performance.

Features of MACD4C Indicator for MT4

This version of the indicator improves on the visual display of the regular MACD indicator. Unlike the regular MACD with a one-colored histogram, this version (MACD 4C) comes in four colors – red, maroon, green, and lime.

Each color of the indicator depicts different signals and market conditions. The lime color indicates that the MACD line has crossed to the upside, which signals a bullish trend. Conversely, the maroon color indicates the crossover of the signal line to the downside, which suggests a bearish trend.

Furthermore, the lime and maroon also double as signals for more bullish and bearish momentum in the market. On the other hand, the green and red histograms suggest depletion in bullish and bearish momentum, respectively.

Benefits of Using the Indicator

  • Simplified Signal Interpretation: The indicator makes it easy for traders, especially beginners to understand different market conditions at a glance.
  • Confirmation Tool: Traders can use the MACD 4C indicator for MT4 as a confluence with price action/other indicators to confirm market conditions or trade entries.

Indicator Settings Description

The indicator comes with the following customizable settings:

InpFastEMA: Determines the period of the fast exponential moving average.

InpSlowEMA: Determines the period of the slow exponential moving average.

InpSignalSMA: Determines the period of the signal line’s simple moving average.

InpWidth: Determines the width of the MACD lines.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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