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Indicators

MACD_color - indicator for MetaTrader 4

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Views:
14375
Rating:
votes: 3
Published:
2008.05.17 05:41
Updated:
2016.11.22 07:32
MACD_color.mq4 (3.15 KB)view

Author: Korey


In manual trading, watching how zero bar is forming makes you impatient in vain.

Zero bar is often out of control in automated trading, because it is considered as not-yet formed.

From these considerations, we concluded that it would be useless to display zero bar of the indicator due to false signals that occur while it was being formed.

However, it is possible and necessary to display the indicator signal line on zero bar, since this line is rather integrated, i.e., forecast functions of the signal line are retained on zero bar.



It is proposed to evaluate an indicator that does not display zero bar, but displays the signal line on zero bar.

The indicator is colored in the B. Williams' AC/AO style.

If the next bar is below the preceding one, then the down-color=red.

If the next bar is above the preceding one, then the up-color=green.

Recommendations:

You can restore displaying of zero bar directly in the indicator's code:

a) no zero bar displayed: if(i>=1),

b) zero bar displayed: if(i>=0).


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/8066

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