BB MACD metaTrader indicator is a basic MACD indicator that helps to detect trend change points and measure the strength of the current trend. The indicator is drawn in a separate window on the chart. It consists of two lines (blue, red), and the dots which can either be green or magenta. The indicator is indicated by the change in color of the dots. The width of the gap between the lines indicates the strength and direction of the current trend. This indicator is available in MT4 as well as MT5.
Input parameters
FastLen - The period of the slow moving average (the one that has the lowest period) is used to calculate this indicator's dots.
SlowLen (default =26) -- The period of the slow-moving average (the one that has the longest period), which is used to calculate this indicator's dots.
Length - The period of the moving average, and the standard deviation indicators used in the lines calculation.
barsCount -- The maximum number of bars that can be applied to these calculations (default = 400).
STDv -- Weight multiplier for standard deviation indicator in its portion in the calculations, compared to moving average.
EnableNativeAlerts -- If true is set, MetaTrader will use MetaTrader's native popup alerts for color changes to BB MACD.
EnableSoundAlerts -- If true is set, sound alerts will work on color changes in BB MACD.
EnableEmailAlerts -- If true is set, MetaTrader will send email alerts on BB MACD colour change. Email should be properly configured in MetaTrader via Tools->Options->Email.
EnablePushAlerts -- If true is set, MetaTrader will send push notification alerts to your device when the BB MACD colors change. Notifications should be properly configured in MetaTrader via Tools->Options->Notifications.
SoundFileName [default = "alert.wav") -- sound name to play on alert when EnableSoundAlerts has been set to true.
How do you trade with BB MACD
The chart shows that the signals to buy occur when the magenta dot turn into the green, and the signal for selling occurs when the magenta dot turns to magenta. It is best to trade when both the red and blue lines are wide.
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How to download and install an indicator
In order to install the indicator on your MT4 or MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “BB MACD” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.
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