Up until now, I have described the traditional MACD. In the fifth element strategy, we use the Meta Trader 4 MACD. The difference between the traditional MACD and the Meta Trader 4 MACD is in the histogram.
The traditional MACD’s histogram represents the difference between the MACD line and signal. The Meta Trader 4 MACD’s histogram however, represents only the MACD line, which is the difference between the EMA 12 and EMA 26.