The MACD 4 Color Indicator (MACD 4C) in MetaTrader 4 is an upgraded version of the classic MACD indicator. 
Not only does it show the trend direction, but it also highlights trend strength using four distinct colors. 
The color coding of the MACD 4C is based on the slope of the moving averages.
One of the best ways to spot the start or end of a trend is by using this indicator. It also incorporates divergence and convergence techniques to enhance trading strategies. 
You can download it from this link:
https://cdn.tradingfinder.com/file/2...tflab-v1-2.zip
You can also access to mt5 version of this indicator from this link:
https://www.forexfactory.com/thread/...der-5-download
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Bullish Trend ConditionsIn the EUR/USD price chart (15-minute timeframe), the weakness of a downtrend is shown in light red, while the start of a strong uptrend is marked with light green.
After the uptrend ends, fluctuations in the histogram appear in dark green.
Bearish Trend ConditionsIn the USD/CAD price chart (1-hour timeframe), the weakness of an uptrend is represented by dark green, and the start of a strong downtrend is shown in dark red.
After the downtrend ends, fluctuations in the histogram appear in light red.
Indicator Settings- Fast EMA: Exponential Moving Average fast period set to 12.
- Slow EMA: Exponential Moving Average slow period set to 26.
- Signal SMA: Simple Moving Average signal period set to 9.
Summary
The MACD 4 Color Indicator (MACD 4C) on the MetaTrader 4 platform is a powerful tool for experienced traders. � It offers a clear advantage over the traditional MACD by helping identify both trend direction and strength.
When combined with other indicators like RSI or Stochastic, it can help refine trading strategies for better decision-making. 
Keep in mind, this oscillator falls under the MT4 volatility indicators category.
Pro Tip: Use the MACD 4C alongside other tools to maximize your trading potential! 
