A quick question about overbought/sold in MACD

Hi guys,
my MACD indicator lacks any lines to actually show the usually overbought/sold areas, but it does have the numbers - from memory, I remember reading somewhere the lines should be set at +2 and -2 for overbought/sold, is this correct?? (0.2 & -0.2)

Hello, Katreya

Yes, you are right about the overbought/oversold lines numbers.

Thank you,
Albinas

Thank you! Just wanted to make sure

Macd is not an overbought or Oversold indicator

Stochastics, Williams percentage or RSI amongst the many available are.

Read this thread to understand what Macd shows.

http://www.forexfactory.com/showthread.php?t=31692

There is no such thing as overbought and oversold.
The Market is always just doing its job. Matching the most buyers and sellers at any given price. How can there be an oversold condition with that in mind?