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Published:

2016.11.03 14:41

Updated:

2017.01.16 09:38

normalized_macd.mq5 (9.22 KB) view

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As useful as MACD is, it probably lacks one thing: bounds.

MACD is an un-bound indicator and a lot of times we can not estimate if some kind of a minimum or a maximum is reached to decide if a trend is strong, weak or is starting to get exhausted. This version is an attempt to normalize MACD in known bounds that would allow us all the above described.

As usual with gradients, if you wish only colors on slope, set the color steps to 2.

Normalized Velocity

The normalizing velocity, using by default a gradient coloring.

RSI of MACD double

The MetaTrader 5 version of RSI of MACD double

Elder Auto Envelopes V2

The auto envelope automatically sizes channels by calculating a standard deviation for the last n bars.

Aroon Indicator in new form

The Aroon indicator in the new visualization.

Normalized MACD - indicator for MetaTrader 5