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Rating:: (17)
Published:: 2018.02.09 16:23
Updated:: 2018.05.07 07:40

Macd DEMA.mq5 (10.74 KB) view

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In his TASC January 1994 article "Smoothing Data With Faster Moving Averages", Patrick Mulloy describes a MACD that does not use EMA for MACD calculation but uses DEMA (Double Exponential Moving Averages).

According to him:

Patrick Mulloy: By simply extracting the estimate for the non-time related coefficient B0 in the formal one-parameter double Exponential Moving Average used in time series forecasting, it has been shown to be an effective modified EMA with much faster response during fluctuations than the standard single EMA. In addition, the DEMA is not just a double EMA with twice the lag time of a single EMA, but rather it is a composite implementation of single and double EMAs producing another EMA with less lag than either of the original two. For general use, the more accurate but more complicated initialization formulas can be obviated and replaced with the simple use of the initial database value at time 0.

So here is the MACD that is using DEMA fo calculation.

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CCI alternative

Commodity Channel Index (CCI) is a versatile indicator that can be used to identify a new trend or warn of extreme conditions. Donald Lambert originally developed CCI to identify cyclical turns in commodities, but the indicator can be successfully applied to indices, ETFs, stocks, and other securities.

MACD TEMA

MACD TEMA is even a bit more "faster" than MACD DEMA so, depending on the parameters, in scalping mode (short calculating periods) or trending mode (when longer periods are used. Never forget that MACD is primarily a momentum indicator and that it is the main goal of MACD.

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MACD DEMA - indicator for MetaTrader 5