macd momentum
Info
The macd momentum is a Indicator for MetaTrader 4 that macd momentum indicator (the red line is the momentum 10 of the histogram macd, smoothed 3). from an idea of tom aspray, i don't know if this indicator is the same he was thinking about, but it could be usefull.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use macd momentum
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
macd momentum indicator (the red line is the momentum 10 of the histogram macd, smoothed 3).
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: macdac - another powerful indicator for MetaTrader 4 traders.
macd momentum indicator (the red line is the momentum 10 of the histogram macd, smoothed 3).
from an idea of tom aspray, i don't know if this indicator is the same he was thinking about, but it could be usefull.
Also recommended: macd indicator on price chart - similar indicator with strong performance on MetaTrader 4.
"in the fall of 1986, tom aspray completed work on a new indicator: the macd histogram/momentum. the macd, or convergence/divergence, is an excellent indicator, but its signals often lag when run on weekly data. convergence/divergence was developed by gerald appel, who has created many excellent technical tools.
tom first presented his work on the macd at a computrac conference in 1984. at that time, very few analysts were aware of it, much less using it on the commodity markets. now it is a widely used technical tool.
tom did some work on optimizing the macd by testing various combinations of inputs for the three exponential moving averages. then, by altering the moving average variables, the results are dramatically different.
for example, the default for silver (12 days, 26 days and 9-period exponential average of the difference) were not always profitable, while the (10, 20, 9) combination was profitable 54% of the time, with an average profit of 67.5 points and an average loss of only 34 points.
after studying and using macd for almost five years, tom felt that, besides optimization, a method of anticipating crossovers would be a distinct advantage. after looking at (and testing) several alternatives, he found that by running a 10-day momentum (with 3-day smoothing) of the macd in histogram form (macd-h), the results were quite good."
You may also like: moving average convergence divergence (macd) - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property strict
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 gray// silver
#property indicator_color2 yellow
#property indicator_color3 white// silver
#property indicator_color4 red // magenta.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.