2Line MACD Indicator
MT4 Momentum TradingFree DownloadThe 2Line MACD Indicator is an improved and updated version of the standard MetaTrader 4 MACD oscillator.
How to use 2line macd?
First, you need to determine the overall market trend. You can use trendline or moving average for that purpose. More advanced traders can utilize bounces from supply and demand or pivot levels. The indicator itself generates bearish and bullish signals on EMA’s crossover.
For long trades, the blue ema should cross above the red ema, and the histogram should carry positive values (green color).
For short trades, the blue ema should cross below the red ema, and the histogram should carry negative values (red color).
Close your open position when the opposite signal occurs, or use your own preferred method of trade exit.
Most importantly: trade only in the direction of the main trend.
Example of USD/JPY M15 Chart
This screenshot below shows an example of 2 Lines MACD Indicator in action in conjunction with 200 EMA for trend determination.
