MetaTrader Indicator BB MACD - is a basic variation of the MACD (Moving Average Convergence Divergence) indicator, which helps detect the trend change points and measures the current strength of the trend. The indicator is drawn in the separate graph window and consists of two lines (blue and red) and small, which can be green or magenta. The color change of the small is a good provider of signals, while the width of the gap between two lines indicates the strength of the current trend. You can download this indicator for MT4 and MT5.
The input parameters
FastLen (default = 12) - the period of the fast moving average (with the lowest period), which is used in calculating the small of this indicator.
SlowLen (default = 26) - the period of the slow moving average (with the highest period), which is used in calculating the small of this indicator.
Length (default = 10) - the period of the moving average and the standard deviation indicator that are used in the calculation of the indicator lines.
barsCount (default = 400) - the maximum number of graph bars to apply these calculations (not the important parameter).
StDv (default = 2,5) - the weight multiplier for the standard deviation indicator in its calculation part compared to the moving average.
As the chart shows, the buying signals are when the small magenta become green and the sell signal is when the little greens become the magenta ones. Trading is best when the blue and red lines are somewhat wide.
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