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Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

votes: 15
2016.11.03 14:41
2017.01.16 09:38

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 Normalized Velocity

The normalizing velocity, using by default a gradient coloring.

RSI of MACD double RSI of MACD double

The MetaTrader 5 version of RSI of MACD double

Elder Auto Envelopes Elder Auto Envelopes

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

Aroon Indicator in new form Aroon Indicator in new form

The Aroon indicator in the new visualization.