What is the ALLMACD indicator?
ALLMACD Indicator is one of the strongest and most updated versions of MACD Indicator.
In the ALLMACD indicator, there is the possibility for you to see MACD in higher timeframes, whilst you are in lower timeframes on the chart.
This feature will allow you to focus more on your trading strategies, since MACD indicator which is in higher time frames lets you to filter the market more accurately.
Take a look at the image below (click to enlarge)
As you can see, we have two MACD indicators on EUR/USD chart in 5 min time frame.
One is in 5 min timeframe and the other MACD indicator is for 15 min time frame.
This feature in the ALLMACD indicator allows you to call it in all different timeframes to have a full view of your chart in respect to the MACD indicator.
How to apply ALLMACD indicator?
The most commonly used feature of MACD indicator, as mentioned in previous posts, is to detect divergence.
In fact, with the MACD indicator, analysts are trying to spot divergences in the market. But imagine that you are in time frame lets say 5 min and you want to also detect divergence at higher time frame at the same time to get more confirmation of the signal received.
In normal conditions you have to constantly check the chart in different timeframes by changing the time frame of the chart. But ALLMACD indicator facilitates this task for you and in one chart you can look at the MACD in any time frame you want with no need to shift the main chart.
Or, for example, imagine that you want to trade only based on MACD indicator. Your strategy is to take the trend based on MACD at higher timeframes and then you trade at a lower time frame based on ALLMACD indicator.
So in order to open different charts, shift your chart in different time frames constantly, then you can easily have them all in one chart with this indicator.
Look at the image below (click to enlarge)
Once again, we are reminding you that only based on one indicator such as the MACD indicator, better not to enter the market.
These are just examples to simplify the use and application of the ALLMACD indicator.
You can certainly achieve great results by combining the indicator with your personal strategy.
You can use the link below to download the indicator:
How to install the indicator in MetaTrader 4? (tutorial)
1- To install the indicator in MetaTrader, first click on File from the top of the MetaTrader tab.
2- Then select the Open Data Folder menu from the menu openned
3- Open the MQL4 folder to install the indicator
4- And then copy and paste in the indicator folder.
5- Now close your meta trader and open it again.
In the relevant menu you will see that the indicator has been added to your list of indicators.
Just double-click on it in MetaTrader so that you can call and place it on the chart.