BB MACD MetaTrader indicator | FREE Forex Trading Indicator

The BB MACD MetaTrader indicator is a basic MACD (Moving Average Convergence Divergence) indicator variation that aids in detecting trend change points and determining the strength of the current trend. The indicator is displayed in a separate window on the chart and consists of two lines (blue and red) and dots (green or magenta). The colour change of the dots is a good signal, and the width of the gap between the two lines indicates the strength of the current trend. This indicator is compatible with both MT4 and MT5.

Input parameters

FastLen (default = 12) — the period of the fast moving average (the one with the lowest period), which is used in this indicator’s dots calculations.
SlowLen (default = 26) — the period of the slow moving average (the one with the highest period), which is used in this indicator’s dots calculations.
Length (default = 10) — the period of the moving average and the standard deviation indicators that are used in this indicator’s lines calculations.
barsCount (default = 400) — the maximum amount of bars on the chart to apply these calculations to.
StDv (default = 2.5) — weight multiplier for the standard deviation indicator in its part in the calculations compared to the moving average.
EnableNativeAlerts (default = false) — if true, MetaTrader’s native pop-up alerts will be used on BB MACD color change.
EnableSoundAlerts (default = false) — if true, sound alerts will be used on BB MACD color change.
EnableEmailAlerts (default = false) — if true, MetaTrader’s email alerts will be sent on BB MACD color change. Email should be properly configured in MetaTrader via Tools->Options->Email.
EnablePushAlerts (default = false) — if true, MetaTrader’s push notification alerts will be sent to your device upon BB MACD color change. Notifications should be properly configured in MetaTrader via Tools->Options->Notifications.
SoundFileName (default = “alert.wav”) — sound file name to play on alert if EnableSoundAlerts is set to true.

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BB MACD Indicator Example MetaTrader Chart

As the chart example suggests, the signals to buy are when the magenta dots turn into the green ones and the signal to sell is when the green dots become magenta. Trading is better to be performed when both blue and red lines are rather wide.