Inspired by existing MACDs on PRC or TW, this indicator is a “Reloaded” evolution of the MACD in which all parameters are adjustable.
The indicator is shared with the settings that seem to perform best, but which can be extensively modified.
Have fun!
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EMAshort1 = Average[short1,mmshort1](close) EMAshort2 = Average[short2,mmshort2](EMAshort1) DifferenceShort = EMAshort1 - EMAshort2 ReloadedShort = EMAshort1 + DifferenceShort EMAlong1 = Average[long1,mmlong1](close) EMAlong2 = Average[long2,mmlong2](EMAlong1) DifferenceLong = EMAlong1 - EMAlong2 ReloadedLong = EMAlong1 + DifferenceLong ReloadedMACD = ReloadedShort - ReloadedLong signal1=ExponentialAverage[signal](RELOADEDMACD) signal2=ExponentialAverage[signal](signal1) DIFFERENCE2=signal1-signal2 SignalMACD=signal1+DIFFERENCE2 if signalMACD>=ReloadedMACD then r=255 g=69 b=0 else r=54 g=224 b=208 endif DRAWCANDLE(signalMACD,reloadedMACD,signalMACD,reloadedMACD) coloured(r,g,b) if reloadedMACD crosses over signalMACD or reloadedMACD crosses under signalMACD then drawtext("●",barindex,signalMACD,Dialog,Bold,12) coloured(r,g,b) endif RETURN ReloadedMACD coloured(54,224,208) style(dottedline,1 ) as "Reloaded MACD", SignalMACD coloured(255,69,0) style(line,2) as "Signal MACD", 0 coloured(100,100,100) as "zero line" |
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I love your version of the MACD, if you use it you can get a lot of use out of it, for me maybe the points and the color bars are too much, with two lines it is more than enough, the interest is in the variants it offers