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2011.01.10 07:30
Indicators

MACD Ichimoku - indicator for MetaTrader 4

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The MACD is one of the stable indicators around which many strategies have been developed.

In an attempt to apply some market sentiment indications to it I decided to apply the Ichimoku concepts to it's values.

Instead of re writing how to use Ichimoku I suggest you have a look at an extremely good source of information

at Ichimoku Wiki and you can then read this indicator with a full understanding.

On the attached chart I have noted a basic view on a movement just to give you an idea of how one may read the information presented.

The indicator itself uses the same auto shading code that I use to make shades float and you will need to allow dll's for that to occur and wait for a new tick or

right click and edit without changing anything and close again on a stationary chart for clouds to float.

Because we are dealing with positive and negative values in MACD, I am constrained with the amount of buffers that I can use to allow shading of every

possibility. This means that while you will always see the SenkouA and B lines, (Boundaries of the Kumo Clouds), occasionally a small amount of shading is clear

when zero line crossovers occur. Nothing to worry about but worth mentioning.

For me this is quite a new way of confirming MACD and I am very happy with the overall information presented. Ichimoku is a bit of a learning curve but a very worthwhile

pursuit and I believe this indicator would be similar. A bit daunting at first but worth the exercise.

Initially I just ran the M5 and M15 strategy tester with a do nothing EA and watched and noted how the indi behaved. After a while you will be surprised how well it tells the story.

I have nearly completed the Stochastic and CCI Ichimokus and released the ADX_Ichimoku on my site a while ago.

Cheers

Brooky


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