Indicators: MACD High/Low
Hi Mladen Rak, Do you have MT4 version for this MACD High/Low indicator ?
No, a version that works exactly like this was never made for mt4
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MACD High/Low:
MACD (invented by Gerald Appel back in 1970) is one of the widely used indicators.
Usually it is used in combination of a zero line and a signal line.That is a good approach but the zero line part has it's issues. One of the main issues is that the zero line after big changes in the market is too far from the MACD value if the market turns back.
This version is keeping the signal line intact but is changing how the zero line handling and is adding levels that are not usually known to MACD. It uses the highest high and lowest low of MACD (nnn) bars back to calculate a sort of dynamically changed zero line, early levels up and down and trend confirmation levels up and down. By adding these non-fixed levels, the MACD becomes faster in response to market changes and the MACD trend assessment has less false signals.
Author: Mladen Rakic