The code was prepared back in 2005. Unlike the original, the smoothing ratio here is raised to power. The power value is set by the G external variable (the default value is 2, like in the original). Several people challenged the authorship of this value, though it is not of much significance here.
The main advantage of wellx version is the color dots identifying a trend.
Kaufman's AMA from wellx
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/7378
Standard MACD diagram with bullish and bearish bars colored differently.1 Click To Close All Open Positions at Current Attached Chart
1 Click "Close All" button to close all open positions at current attached chart.