MTF MACD

[Apprentice]

In this MTF indicator, position of the MACD line is shown in relation to the signal/zero/histogram lines.

MTF_MACD.lua

(10.71 KiB) Downloaded 1107 times

Old (Symbolic) Implementation

MTF_MACD Old.lua

(11.91 KiB) Downloaded 956 times

[dljohn]

Thanks!

[serchfx]

Excelent indicator.

Do you can make a strategy for this indicator???

Thank's

[Apprentice]

Of course, if you give me Entry and Exit signals.
I could think of several ways to implementat it.

[fabfxcm]

Hi Apprentice,
I think the idea of making a strategy from this indicator is very good. A strategy in which you could choose as entry signal the cross of the two EMA or MVA lines under zero and close when they cross aboce zero (but maybe some false signlas could start!!). Or you should insert, if it is possilbe, when the red line cross the blue line enter short, while long when the opposite happen.

[JPNWV7]

MTF MACD.png

In this MTF indicator, position of the MACD lines in relation to the signal and the zero line,
is shown by symbols.

Histogram is not shown.

MTF_MACD.lua

Multi Time Frame MACD

What are the buy & sell signals of the MTF MACD when

the circle is green & the sqaure is red
and
when the circle is red & the square is green

Thanks

[Apprentice]

In the current version I have not implemented the trading signals.
Shows only the position and slope.

Green is Up
Red Trend is Down

[JPNWV7]

In the current version I have not implemented the trading signals.
Shows only the position and slope.

Green is Up
Red Trend is Down

Ok, I know that, but in the chart above under the 4H time frame you have a Red Square & under it is a Green Circle, is the trend up or down? Why is one red & the other one green? In the 4H Time Frame with a red square first then under it a green circle, would you enter a long or short position?


Thanks

[Apprentice]

Red Square & under it is a Green Circle, is the trend up or down?

Green Circle tells us, the MACD is rising but it is still below the signal lines.
Red Square tells us that the Signal is in decline, approaching the MACD line.
You should take a close look at the actual chart.
It seems that soon we will have long signal, but it is not happening yet.

Relying on color alone. No.
Timing is critical, if you caught the change early enough, probably yes.

But for me this is for me a theoretical discussion,
because I do not use indicators in my trading.

[MrRiversideDude]

Is it possible to modify this indicator to use the histogram? Is there already an indicator available that provides this functionality?

Thanks in advance!!