The MACD (moving average convergence divergence) MTF Panel indicator purpose is to:
– display the MACD for any timeframe on the current chart, in a small panel
– eliminate the need to use the default MACD indicator, therefore allowing more space for the price chart
This indicator is useful for traders that use MACD (trend trading) trading strategies. Although the MACD can be successful used to enter and exit profitable trades, its main purpose is to detect the trend and possible trend reversing signals.
The settings allow the trader to display the MACD for multiple timeframes, set the MACD inputs and choose whether or not to receive alerts when the MACD signals change. The panel position on the chart can be changed so it will not cover other indicators or the price / candles.