MACD Histogram Indicator: Just The Gap, In Two Colours

Written by Dominic Walsh · Published 15 Jun 2026 · Last updated 21 Sep 2026

The macd histogram indicator throws away the two lines and keeps the difference. What remains is the gap between MACD and its signal. Columns carry that gap. Above zero it is positive, and below zero it has turned.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Separate window (levels 0)
Plots	3: Hist+, Hist-, Zero
Alerts	popup, push notification, email, sound
Inputs	10

The visual side

`Hist+` fills dodger blue columns above the zero line.

`Hist-` fills crimson columns below it.

A dim gray `Zero` line runs through the middle.

Neither MACD nor its signal appears anywhere in the pane.

• Hist+: histogram, dodger blue, width 2
• Hist-: histogram, crimson, width 2
• Zero: line, dim gray, width 1

What the code actually computes

Standard settings underneath

iMACD runs at `InpFastEMA` `12`, `InpSlowEMA` `26` and `InpSignalSMA` `9` on `InpAppliedPrice` `PRICE_CLOSE`. Subtracting the signal from the main line gives the plotted value.

One value, two colours

Both column buffers receive the same number. Only the sign decides which one gets it. So the columns cannot disagree where they meet the zero line.

Zero crossings raise the alert

A message fires when the value moves from at or below zero to above it, or the reverse. That crossing is the moment the two hidden lines swap places.

Reading the result

Column height shows how far apart the two hidden lines have travelled.

Shrinking columns mean they are closing in.

A zero crossing is the same event a two-line build would flag as a signal.

The pane scale runs in price units, so it shifts with the instrument.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

`InpEnableAlerts` gates all four routes and starts true with `InpPopupAlert`. `InpPushAlert` reaches the mobile app. `InpEmailAlert` sends mail. `InpSoundAlert` plays `InpSoundFile`. Those three arrive false, and one message goes out per closed bar.

Every MACD Histogram Indicator input

Core settings

Setting	What it does	Default
InpFastEMA	Fast EMA period. Quick average inside the study, default `12`.	12
InpSlowEMA	Slow EMA period. Slow average inside the study, default `26`.	26
InpSignalSMA	Signal SMA period. Average taken off the main line, default `9`.	9
InpAppliedPrice	Applied price. Price the study reads, default `PRICE_CLOSE`.	PRICE_CLOSE

Alert settings

Setting	What it does	Default
InpEnableAlerts	Alert on zero-cross. Gate above the four delivery routes, default `true`.	on
InpPopupAlert	Popup alert. Window inside MetaTrader on a zero cross, default `true`.	on
InpPushAlert	Push notification. Message to the mobile app on a zero cross, default `false`.	off
InpEmailAlert	Email alert. Mail on a zero cross, default `false`.	off
InpSoundAlert	Sound alert. Clip on a zero cross, default `false`.	off
InpSoundFile	Sound file. Name of that clip, default `”alert.wav”`.	alert.wav

Symbols and timeframes

The 12, 26 and 9 combination was built for daily bars. EURUSD H1 is the reference chart. Zero crossings arrive every day or two there. On M5 they come constantly. Daily charts give the study as intended.

Its blind spots

Without the two lines you cannot see whether both sit above zero.

Columns shrink before every crossing, so a turn can look close for a while.

Three stacked averages put each crossing well behind the turn in price.

Copy the compiled MACD Histogram Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Background reading on the method behind the MACD Histogram Indicator: Market depth on Wikipedia, Guidelines For Applying Elliott Wave Theory at StockCharts ChartSchool.

Download the MACD Histogram Indicator for MT4 and MT5

The zip holds the compiled MACD Histogram Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What does the Hist+ column actually measure?

The MACD main line minus its signal line. A positive value means the main line sits above the signal, and the height shows by how much. A two-line build would draw that same number as a gap.

Why drop the MACD and signal lines?

Because the gap between them carries the crossing on its own. One series is easier to read than two. The cost is losing sight of where both lines sit against zero.

What raises the InpEnableAlerts message?

The value crossing zero in either direction. That is the moment the two hidden lines swap. The check reads the last two completed bars, so a value already past zero raises nothing new.

Does InpSignalSMA 9 use a simple average?

The name says so, and the terminal builds the signal as a simple average of the MACD line. Nine bars is the textbook value. Lengthening it delays every crossing.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the MACD Histogram Indicator as one input. Always backtest before trading live.