The Custom MACD Indicator is a popular and free Forex indicator for the MT4 trading platform. This useful indicator allows traders to quickly and easily identify changes in the direction of the market. The indicator consists of two lines, the MACD line and the signal line. The MACD line is the difference between a 12-period Exponential Moving Average (EMA) and a 26-period EMA. The signal line is an EMA of the MACD line. When the MACD line crosses above the signal line, it is a signal to buy, and when the MACD line crosses below the signal line, it is a signal to sell. The Custom MACD Indicator also has a histogram which shows the difference between the MACD line and the signal line. The histogram is very useful for quickly identifying when the MACD line is increasing or decreasing in value. When the histogram is increasing, it means that the MACD line is increasing in value and the market is trending upwards. When the histogram is decreasing, it means that the MACD line is decreasing in value and the market is trending downwards. With its simple setup and easy to read signals, the Custom MACD Indicator is a popular and useful Forex indicator.
The Custom MACD Indicator is a popular and useful Forex indicator for the MT4 platform. It is free to use and provides traders with a powerful tool to help them make informed decisions when trading. This indicator helps traders to identify changing trends in the markets by comparing the moving averages of different time frames. The Custom MACD Indicator can be used to determine the strength of a trend and to identify potential entry and exit points. It is a powerful and easy to use tool for traders of all levels.
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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:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
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.