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MACD Color Indicator

MACD Indicator with color background based on buy or sell trend


This indicator colors the background based on the value of the MACD (Moving Average Convergence Divergence) indicator, depending on its buying or selling tendency. The background color is determined based on the stochastic oscillator parameters, painting only the last 400 bars (see notes) and is used to measure the strength of a trend and the probability of a reversal.

The parameters you can modify are the same as those provided by the Metatrader MACD indicator and additionally those needed to edit the colors you decide are the most suitable for you. The following are the parameters you can modify:

  • Fast EMA: Period for the fast exponential moving average.
  • Slow EMA: Period for the slow exponential moving average.
  • MACD SMA: Simple moving average to calculate the MACD signal line.
  • Apply To: (Close price, Open price, High price, Low price, Median price, Typical price, Weighted price).
  • Color Positive Trend: Background color for an uptrend.
  • Color Negative Trend: Background color for a downtrend.
  • Color Neutral Trend: Background color for a neutral trend.
  • Print all plots?: By default, only the indicator values for up to two weeks are drawn. If you want more values, from the beginning of the bars, you will need to use the "true" value (see notes).


How to use the indicator

It works like any other Metatrader indicator that is dragged and dropped onto the chart.
Conclusion

This indicator is a useful tool for traders who use the MACD indicator. It makes it easy to identify bullish, bearish, and neutral trends in real time.

Notes

  1. If you are a market analyst or your trading uses different timeframes, it is recommended to use the free tool: https://www.mql5.com/en/market/product/109511
  2. Due to high resource consumption and fast execution, it is recommended to use the parameter "Print all plots? = false". This will limit the values obtained by the indicator to a maximum of two weeks (or the bars defined in your Metatrader Options).
  3. The restriction to 400 bars is because a market trader usually needs quick visual data, hence this limitation. (Please leave any comments on this matter in the corresponding section). In any case, if you want to overcome this limitation momentarily, you can also use the free tool mentioned in the first note to use it from the bars where you are interested to the current time, both tools were developed to be compatible.


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Stoch Color Script
Adrian Hernandez Castellanos
This script (drag-and-drop) colors the background of the Stochastic Oscillator based on the buying or selling trend. The background color is determined by the position of the indicator lines. Parameters that can be modified: %K Period: The %K period. %D Period: The %D period. Slowing: The slowing period. Price Field: Low/High or Close/Close MA Method: Simple, Exponential, Smoothed, Linear weighted. Color Positive Trend: The background color for an uptrend. Color Negative Trend: The background co
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Stoch Color Indicator
Adrian Hernandez Castellanos
Stochastic Oscillator with Coloring This indicator colors the background according to the trend of the indicator. The indicator colors the background according to the value of the stochastic oscillator, whether it is an uptrend or a downtrend. The background color is determined by the parameters of the stochastic oscillator, painting only the last 400 bars (see notes). Parameters that you can modify: %K Period : The %K period %D Period: The %D period Slowing: The slowing period Price Field : Lo
ADX Color Indicator
Adrian Hernandez Castellanos
Average Directional Movement Index (ADX) indicator that colors the background according to whether the trend is up or down. The ADXColor indicator is a technical indicator that measures the strength of a trend. The background color of the indicator is determined by its parameters and only paints the last 400 bars. The parameters you can modify are: Period: The time period of the ADX indicator. Trend Level: The minimum level that the ADX indicator must reach to be considered a bullish or bearish
AlarmLIne
Adrian Hernandez Castellanos
Trendline Breakout Alert Description: This indicator triggers an alarm (sound, alert or notification) when the price breaks a trendline, either above or below it. Parameters: Names of the trendlines. : Comma-separated names of the trendlines (Make sure your trendline name does not have spaces at the beginning and is exact). Value over/under the line (E.g.: 0.03% or 500 pips). : Value that defines a margin above/below the trendline before triggering the alarm, can be given in percentage or pips,
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Version 1.9 2024.02.29
Leap year patch.