This oscillator is MQL5 version of ZeroLag MACD indicator, published in Russian section of MQL4 CodeBase.
This indicator provides a signal few bars earlier, compared with standard MACD and its divirgence is much more clear.
ZeroLAG MACD(i) = (2*EMA(Close, FP, i) - EMA(EMA(Close, FP, i), FP, i)) - (2*EMA(Close, SP, i) - EMA(EMA(Close, SP, i), SP, i));
ZeroLAG MACD Signal(i) = 2*EMA( ZeroLAG MACD(i), SigP, i) - EMA(EMA( ZeroLAG MACD(i), SigP, i), SigP, i);
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/170
The MQL5 keywords and aliases for autoreplace are presented.AlfOs
It's an oscillator, similar to OsMA with Variable Index Dynamic Average.
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MACD indicator with histogram, can be applied any timeframe (higher or lower than the current chart's timeframe).