This is my modified macd indicator. It uses moving averages to determine the trend of the market. It is best used on lower time frames such as 5min and 15min. I found it useful especially with Forex pairs and also traditional markets. This indicator will help you get in at a pullback in a trending market.
RED background tells you the trend is down. A possible entry happens when you get a sell signal from the macd oscillator above the 0 line. GREEN background tells you the trend is up. A possible entry happens when you get a buy signal from the macd oscillator below the 0 line.