MACD bool color trading indicator
MACD bool color trading indicator for the MetaTrader 5 trading terminal is a modification of the MACD oscillator, which offers a new way of reading the indicator values.
Unlike the standard indicator, the MACD bool color has only two values:
- if the main line of the standard MACD is above zero - the MACD bool color draws a value of 1;
- if it is below zero - in this case the value -1 will be drawn.
In addition, the histogram of the MACD bool color indicator has two colors:
- When the indicator value is above zero: if the highest price of the bar is higher than the highest price of the previous bar - the color green is applied, otherwise gray is applied.
- When the indicator value is below zero: if the lowest price of the bar is below the lowest price of the previous bar - green is applied, otherwise gray is applied.
MACD bool color trading indicator for the MT 5 terminal implies the following variant of trading signals:
- if the MACD bool indicator is above zero, you should look at the price chart and wait for confirmation of the signal - upward trend.
- if the MACD bool indicator is below zero, wait for the signal confirmation on the chart - downward trend.
Download MACD bool color trading indicator for MT5