MACD Double Indicator for MT5 – Free -[TFlab]

The MACD Double Indicator for MT5 is an advanced modification of the classic MACD tool developed to enhance signal precision through higher timeframe validation. This indicator helps traders evaluate market momentum, identify trend direction, and detect potential entry opportunities using adaptive candle color changes.
By integrating MACD calculations with additional filtering methods, the indicator minimizes false signals and provides a clearer understanding of market behavior across various trading conditions.

You can download it from this link:
https://cdn.tradingfinder.com/file/5...5-by-tflab.zip

You can also access the MetaTrader 4 version of this Indicator through this page:
https://www.metalsmine.com/thread/13...-for-mt-4-free

For instructions on how to install:
https://www.forexfactory.com/thread/...-in-metatrader



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Core Features of the MACD Double Indicator

1. Higher timeframe trend confirmation
2. Accurate Buy and Sell signal detection
3. Market momentum analysis
4. Dynamic candle color display
5. Support for trend reversal identification
6. Compatibility with Forex, crypto, stocks, and indices

Signal Generation Process
The MACD Double Indicator creates trading signals using several technical conditions, including:

1. MACD line crossover with the signal line
2. Movement above or below the zero level
3. Higher timeframe momentum confirmation
4. Candle color transitions between bullish and bearish phases

A shift in candle color from red to blue indicates growing bullish momentum and may signal the beginning of a new upward trend.


Bullish Trend Conditions

Bullish setups generally occur when:

1. The MACD line crosses above the signal line
2. The indicator moves into positive territory
3. The first blue candle forms after bearish pressure
4. The higher timeframe confirms upward momentum

In bullish market environments, blue candles usually dominate the chart and reflect increasing buying strength. Many traders consider the first blue candle a favorable Buy entry area.
Common bullish characteristics include:

1. Strong upward price movement
2. Continuous blue candle formation
3. Positive MACD histogram expansion
4. Development of higher highs and higher lows
   
   

Bearish Trend Conditions

Bearish conditions emerge when candle colors transition from blue to red, signaling increasing selling pressure and possible downward continuation.
Typical bearish signals include:

1. MACD crossing below the signal line
2. Indicator movement beneath the zero level
3. Formation of the first red candle after bullish momentum
4. Confirmation from a bearish higher timeframe trend

During bearish conditions, traders often interpret the first red candle as a potential Sell entry signal.


MACD Double Indicator Parameters

The indicator offers several adjustable settings that enable traders to optimize performance according to their preferred trading strategy and market volatility.
Main configuration options include:

1. Fast EMA Period
   1. Determines the fast Exponential Moving Average period

   
   

2. Slow EMA Period
   1. Sets the slow Exponential Moving Average calculation period

   
   

3. Signal MA Period
   1. Defines the signal moving average length

   
   

4. ALERT_ON_SIGNAL
   1. Activates alert notifications for trading signals

   
   

5. EMAIL_ON_SIGNAL
   1. Enables email delivery for signal alerts

   
   

Benefits of Using the MACD Double Indicator

This indicator provides several practical advantages for technical traders:

1. Improved trend filtering accuracy
2. Reduction of false trading signals
3. Better market direction analysis
4. Simple visual interpretation through candle colors
5. Effective for momentum and reversal trading
6. Suitable for intraday and swing trading strategies
   
   

Conclusion

The MACD Double Indicator is a versatile technical analysis tool designed for traders seeking enhanced market trend confirmation and more reliable trading signals. By combining traditional MACD logic with higher timeframe filtering, the indicator delivers clearer market insights and improved signal quality.
Within the MetaTrader 5 environment, blue candles represent bullish market momentum, while red candles indicate bearish pressure. These color transitions help traders identify potential reversals and trend continuation opportunities with greater confidence.