Hello ~ The MACD oscillator I inserted on my chart is showing the histogram and one red line. I thought that it is supposed to be two lines for slow and fast averages. Do I need to set the parameters for this? I am using a Meta4 demo account. Thank you for your assistance.
Hello Hazel
For MT4 I can not find a way to change the main line from histogram to a line. The main line be it depicted in a histogram or a line is not different but merely plotted differently. It is practically the same thing but needs some visual adjustment!!
You need to download the real or true macd. You will find it on forex factory.com. Copy it to you local drive under programme files x68 under your meta 4 demo’s indicators. You will need admin rights to do this. Restart your computer and you should see the true macd showing the two crossing lines.
The standard one on MT4 is worthless and you need to either download a custom one or use a different trading platform.
@Hazelwins, I want you to look at the pictures below this video: Trading on MACD - Profiforex Forex Broker
It is a picture illustration of how to use the MACD indicator to make profit. This is the default or Standard MACD indicator. Yes, it can be used and you can set the parameters. There is the Red line below and the chart above. Now watch how to read its movement.
The 7th image shows how to use the Awesome Oscillator and it keeps you on track as you monitor the trend. I hope this is helpful enough.
Thank you for taking the time to send this to me. It is much appreciated and I will take the time to study it.
Hello,
Your question is somewhat confusing and I have also not much into MT4 but I would like to suggest like MACD, the MACD- Histogram is also an oscillator that fluctuates above and below the zero line. The histogram here measures the distance between MACD and its Signal line (i.e. 9 day EMA of MACD). Bullish or bearish divergence in MCAD Histogram can alert to an imminent signal line crossover in MACD. In your case it is not possible that a histogram can appear without depicting the two lines and the difference of two. Usually red line indicates as signal line. I guess your MACD line is of the same colour as of your background. So either try changing your background colour or while applying indicator go to settings and change the colour of your MACD.