macd color candles indicator for mt5

The MACD Color Candles Indicator for MT5 displays, as the name suggests, a colorized bars reflecting bullish and bearish momentum based on readings provided by the famous moving average convergence/divergence.

The signals are pretty smooth, thus you can often spots multiple sequential candlesticks in given direction catching significant move and potential profit.

Example chart:

macd color candles indicator example chart

Understanding the macd color candles in metatrader 5

This macd-based indicator provides candles overlay with color-coded presentation. Obviously, green ones reflect upward trend and red ones correspond to downward bias. This simple approach helps in quick understanding current (and past) market situation.

The best results can be achieved when combined with other technical analysis indicators. For example, you can onboard support and resistance lines and confirm entry / rejection of a level by appearence of a right color.

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