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Indicators

MACD_Overlay - indicator for MetaTrader 5

Scriptor | English Русский Español
Views:
16379
Rating:
(18)
Published:
2019.02.07 08:48
MACD_Overlay.mq5 (16.95 KB) view
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Indicator MACD Overlay displays the chart as colored candles according to the data from oscillator MACD.

It has five adjustable parameters:

  • Data MACD Compare mode - MACD data comparison mode
    • MACD and signal Lines - MACD line and signal line
    • MACD vs zero line - MACD line referred to zero
    • Current and previous MACD values - comparing the current and previous values of the MACD line
  • MACD fast EMA period - MACD indicator's fast EMA calculation period
  • MACD slow EMA period - MACD indicator's slow EMA calculation period
  • MACD period signal line - MACD indicator's signal line calculation period
  • MACD applied price - MACD indicator's calculation price

MACD and signal Lines:

  • If the MACD line is above the signal line,
    then the bullish candle is displayed in green
    the bearish candle is displayed in light-green
  • If the MACD line is below the signal line,
    then the bearish candle is displayed in red
    the bullish candle is displayed in light-red

MACD vs zero line:

  • If the MACD line is above zero,
    then the bullish candle is displayed in green
    the bearish candle is displayed in light-green
  • If the MACD line is below zero,
    then the bearish candle is displayed in red
    the bullish candle is displayed in light-red

Current and previous MACD values:

  • If the MACD line values grow,
    then the bullish candle is displayed in green
    the bearish candle is displayed in light-green
  • If the MACD line values fall,
    then the bearish candle is displayed in red
    the bullish candle is displayed in light-red

Fig. 1. MACD Overlay + MACD. Data MACD Compare mode = MACD and signal Lines


Fig. 2. MACD Overlay + MACD. Data MACD Compare mode = MACD vs zero line


Fig. 3. MACD Overlay + MACD. Data MACD Compare mode = Current and previous MACD values

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/23427

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