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<p id="isPasted">I can’t speak for MT4 but I can speak for a free to use Algorithmic Trading software called Tekton that is integrated with xStation platform.</p><p>It allows you (the trader) to build your own strategy with multiple indicators and back test with super speedy results.</p><p>Try a demo on TRADINSIGHTS-HOME PAGE.</p>
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<p id="isPasted">MACD is a good momentum indicator but it is not perfect. If you start using this indicator you will notice that you could have significant price failures.</p><p>So this indicator is best used when it combined with others to be used as a mere confirmation tool. This will help you to evolve as a trader and also identify potential entry and exit prices. It is a great tool to identify the trend and its momentum. But not the best indicator when used alone.</p>
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<p id="isPasted">A MACD chart consists of three elements: the MACD line, a signal line, and a histogram, charted around a horizontal axis known as the baseline. The MACD chart is usually graphed just below the security's price chart, so that price movements can be compared with changes in the MACD chart.</p><p>The MACD line is calculated by subtracting a long-term exponential moving average (EMA) from a shorter-term exponential moving average. Generally, these are the twelve-day and 26-day EMA, calculated based on each day's closing price.</p><p>The signal line is calculated by taking the difference between the two EMAs, and from that …</p>
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<p id="isPasted">The histogram is arguably the most useful part of MACD, with the bars representing the difference between the MACD and signal lines. When the market price is moving strongly in a direction, the histogram will increase in height, and when the histogram shrinks, it is a sign the market is moving slower.</p><p>This means that as the bars on the histogram move further away from zero, the two moving average lines are moving further apart. Once the initial expansion phase is over, a hump shape will likely emerge – this is a signal that the moving averages are tightening again, …</p>
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