This indicator is an oscillator based on the averaged difference between the SATL digital filter and the Close price.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Figure 1. The SatlMacd indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/2342
The indicator is drawn as a colored cloud between the lines of a slow digital filter and the price.FatlMacd
An oscillator from an averaged difference between the FATL digital filter and the Close price.