- Unlike the standard TS implementation this indicator shows the MACD as a histogram and SIGNAL as a line (the standard indicator shows MACD and SIGNAL as lines and the difference between MACD and SIGNAL as a histogram)
- The histogram bars are colored in case the bar is above (below) the signal line. The same coloring is used in MT4 Golden MACD indicator.
Formula:
MACD = EMA(price, short) - EMA(price, long)
SIGNAL = MVA(MACD, signal)
Preview:
Download:
Above 0 & above signal = Blue.
Above 0 & below signal = Light Blue.
Below 0 & below signal = Red.
Below 0 & above signal = Light Red.
The indicator was revised and updated