BB MACD MetaTrader indicator
(source: available for free on some free Forex websites)

BB MACD MetaTrader indicator  is a basic MACD (Moving Average Convergence Divergence) indicator variation,
which helps in detecting the trend change points and measuring the current trend's strength.
The indicator is drawn in the separate window on the chart and consists of two lines (blue and red) and the dots, which can be either green or magenta.
The change of the dots' color is a good signal provider, while the width of gap between the two lines indicates the strength of the current trend.
This indicator is available for MT4 and MT5.

Input parameters:

BB MACD Indicator Example MetaTrader Chart

As the chart example suggests, the signals to buy are when the magenta dots turn into the green ones and the signal to sell is when the green dots become magenta.
Trading is better to be performed when both blue and red lines are rather wide.

Download: 100% Free - BB MACD MetaTrader indicator (ZIP). For MT4.

Download: 100% Free - BB MACD MetaTrader indicator (ZIP). For MT5.