Indicator MTF MACD is an indicator of Forex, the essence of which is to monitor the development of the market situation, using moving averages, differing periods, so that we can easily observe when the current market situation is changing in relation to the global.
Noteworthy is MTF MACD in that it belongs to the class of indicators that work without redrawing.
As mentioned above, the multi timeframe MACD indicator uses for trading moving averages with different periods. So, when a curve with a smaller period of time crosses a longer period, it signals a slowdown or acceleration of the trend. That is, when the short-term sliding crosses the long-term in the up direction, this indicates the acceleration in the bullish direction, if the opposite situation is observed, then the trend is accelerating in a bearish direction.
Forex indicator MTF MACD Histogram operates in the terminal metatrader 4 (MT4, MQ4, ex4).
Note that the indicator MTF MACD has two varieties:
- linear type;
- bar chart.
MTF MACD settings:
The default value of 0 is the current timeframe. For other timeframes: 1=M1, 5=M5, 15=M15, 30=M30, 60=H1, 240=H4, 1440=D1, 10080=W1, 43200=MN1
The default value is 12. “Fast” exponential moving average.
The default value is 26. “Slow” exponential moving average.
The default value is 9. This is the signal line, and it is a simple moving average.
The default value is 0 – this means that the Close price is used to calculate the MA. For other types of prices: 0-CLOSE, 1-OPEN, 2-HIGH, 3-LOW, 4-MEDIAN, 5-TYPICAL, 6-WEIGHTED.
The default setting is 0. This parameter shifts the indicator, shifting it to the required number of bars from the set timeframe to the right.