Moving Average Convergence/Divergence – convergence/divergence of moving averages is a technical indicator developed by Gerald Appel, used in technical analysis to check the strength and direction of the trend, as well as to determine reversal points.

The MACD indicator built into MetaTrader 5 does not correspond to the author’s idea (Gerald Appel):
-the MACD line is graphically depicted as a histogram, but the histogram reflects the difference between the MACD line and the signal line; 
-the signal line is smoothed by the Simple method, although the Exponential method should be used according to the author’s idea.

In the original version, this indicator fully corresponds to the idea of the author (Gerald Appel), however, thanks to some modification, you can configure it as you want.

There are possibilities:
-recolor the line and the MACD histogram depending on the increase/decrease of their values;
-choose the smoothing method for fast and slow moving averages (used to calculate the MACD line) and for the signal line;
-choose a different price base for calculating fast and slow moving averages.

Note:
In order to remove any line from the indicator window, it is necessary to specify the color “None” in the “Colors” column (in the indicator settings window).