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2016.05.16 09:49
Ticker MACD

Ticker MACD - indicator for MetaTrader 4

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votes: 3
Author: mandorr

The chart contains the main line (the difference between the fast EMA and the slow EMA, applied to the Ticker line) and the signal line (obtained by applying the SMA to the main line).

In the "Ticker MACD" indicator the line with the index 0 (№0 in the "Colors" tab) is the main line of the MACD. The line with the index 1 (№1 in the "Colors" tab) is the signal line. The indicator starts plotting the signal line PeriodSignal bars after the main line.

It should be noted that the normal values of the indicator start appearing after at least PeriodSlow number of bars, or even more. This is due to the fact that in the calculation of the EMA values, which are used to calculate the MACD, the recurrent formula is applied: X[t+1]=X[t]+K*(Price[t+1]-X[t]).

The initial value of both EMA is accepted as equal to the current price: X[0]=Price[0]. This leads to the EMAs with the same period, but with different initial times, having different values at the same moment of time due to different initial EMA values. But after a fairly long period of time, the values of these EMAs become virtually identical. This is unforeseeable on usual charts because of the large number of bars of the window. For the ticker version, it is necessary to wait for the sufficient number of bars to be accumulated.

The classic indicator parameters are selected by default:
12, 26, 9. If anyone is interested, they can experiment with the parameters and determine the rules for working with this indicator.
The traditional version: crossing of the signal line by the signal line. Sometimes the crossing of the zero line by the main or signal line is used.
The third version: increase/decrease in the value of the main line compared to the previous value (in the spirit of the AO indicator by Bill Williams).
More "exquisite" version: the divergence of the Ticker MACD indicator's main line with the Ticker indicator's main line. As you can see, there are some usage options.

Translated from Russian by MetaQuotes Software Corp.
Original code:

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