TMA MACD
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3 Color MACD

The 3 Color MACD Indicator is a useful forex trading tool that is available for free on MT4. This popular indicator uses Moving Average Convergence Divergence (MACD) to help traders identify market trends and potential entry/exit points. The indicator is easy to use and can be applied to any currency pair or timeframe. It is ideal for both novice and experienced traders who want to enhance their trading strategy with a reliable technical indicator.

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Description

The 3 Color MACD Indicator is a highly sought-after and popular technical analysis tool for traders on the MetaTrader 4 (MT4) platform. This indicator is designed to provide a comprehensive and visually intuitive representation of the Moving Average Convergence Divergence (MACD) indicator, a widely used momentum oscillator.

Features of the 3 Color MACD Indicator

The core strength of the Indicator lies in its ability to simultaneously display the intersection of the MACD signal line and the MACD histogram. The histogram is color-coded, with blue representing the overall trend direction.

When the MACD signal line crosses the zero line upward, the indicator provides a clear buy signal, alerting traders to a potential bullish scenario. Conversely, when the signal line and the zero line cross downward, the indicator generates a sell signal, indicating a bearish market environment.

This intuitive visual representation allows traders to quickly assess the market’s momentum and identify potential trend changes, empowering them to make more informed trading decisions.

How the 3 Color MACD Indicator Can Benefit You

By incorporating the Indicator into your trading strategy, you can gain a significant edge in the forex market. This powerful tool provides you with a comprehensive view of the market’s momentum, enabling you to identify potential entry and exit points with greater accuracy.

Whether you’re a seasoned trader or a newcomer to the forex market, the 3 Color MACD Indicator can be a valuable asset. Its user-friendly interface and clear visual cues make it accessible to traders of all skill levels, allowing you to easily integrate it into your existing trading workflow.

Indicator Settings

FastEMA: This sets the shorter time period used to calculate the exponential moving average (EMA) component of the MACD indicator.

SlowEMA: This sets the longer time period used to calculate the exponential moving average (EMA) component of the MACD indicator.

SignalSMA: This sets the time period used to calculate the simple moving average (SMA) of the MACD signal line.

CountBars: This determines the number of historical price bars to include in the indicator’s calculation.

Line: This adjusts the visual thickness or width of the MACD histogram bars.

Zero_level: This adds an additional reference level, typically at the zero line, to the MACD indicator.

Conclusion

The 3 Color MACD Indicator is a versatile and reliable tool that can help forex traders navigate the dynamic market with increased confidence and precision. By providing a clear and concise representation of the MACD indicator, this tool empowers you to make more informed trading decisions and potentially enhance your overall trading performance. Download the 3 Color MACD Indicator for MT4 today and unlock your full trading potential.

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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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