MACD Revisited
The Mt4 MACD Custom Indicator (like the non-custom standard MACD indicator) draws the histogram and the signal line, and that is all. The other conventional macd signal line is missing.
If you are like me, it is hard to follow/read just the histogram with the one signal line. I keep trying to visualize the "missing" macd signal line. The NewMACD.mq4 file provides for both signal lines and the histogram, but the histogram bars are "squashed" by comparison to what the MACD.mq4 file draws, and the histograms are not the same in other respects either, even though they are both supposedly based on the same 12, 26, 9 input data.
To resolve this problem for myself, I tinkered with the MACD.mq4 file until I got it to produce the missing signal line. It now produces the missing signal line which outlines the histogram, which is appropriate placement based on where the othe signal line is being drawn. The macd study is now much easier for me to read, and it may be for you also.
This new version of the standard macd study, MACD Version2.mq4, is attached.
Thank for this, exactly what I was looking for. Appreciate you sharing this.
LastFX
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
The Mt4 MACD Custom Indicator (like the non-custom standard MACD indicator) draws the histogram and the signal line, and that is all. The other conventional macd signal line is missing.
If you are like me, it is hard to follow/read just the histogram with the one signal line. I keep trying to visualize the "missing" macd signal line. The NewMACD.mq4 file provides for both signal lines and the histogram, but the histogram bars are "squashed" by comparison to what the MACD.mq4 file draws, and the histograms are not the same in other respects either, even though they are both supposedly based on the same 12, 26, 9 input data.
To resolve this problem for myself, I tinkered with the MACD.mq4 file until I got it to produce the missing signal line. It now produces the missing signal line which outlines the histogram, which is appropriate placement based on where the othe signal line is being drawn. The macd study is now much easier for me to read, and it may be for you also.
This new version of the standard macd study, MACD Version2.mq4, is attached.