Indicators: FX5_MACD_Divergence

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FX5_MACD_Divergence:

This is another flavour of the original divergence indicator. It detects divergence between price and MACD indicator and gives Buy or Sell signals according to the divergence type.

Author: Hazem

 
This is a very good indicator, I use the OsMA version for a long time. Now it's available to MACD, but I would really like to see it for the MACD Oscillator too if it is possible and maybe you have time for it, please! I looked into the code and would make it myself but the truth is I'm not really a programmer and couldn't do it myself :( Your work is really appreciated (at least by me, if that counts :)) and thank you very much!
 
repainting one candle.
 
SnaiPear:
This is a very good indicator, I use the OsMA version for a long time. Now it's available to MACD, but I would really like to see it for the MACD Oscillator too if it is possible and maybe you have time for it, please! I looked into the code and would make it myself but the truth is I'm not really a programmer and couldn't do it myself :( Your work is really appreciated (at least by me, if that counts :)) and thank you very much!

What do you mean by MACD oscillator, if the MACD indicator itself is an oscillator ??

 
Zulu:
repainting one candle.

As I said, divergence is not an immedaite signal and we have to wait until we see the begining of the price reversal.

I consulted with some traders before the releasing of this indicator, and they prefered repainting than delaying the signal. After all this indicator is considered an aiding tool not a stand alone system.

However, I will release a version which will dely the signal one candle, but will not repaint. It is up to you to choose which version you like.

 
FX5: I don't know then what it's called, but thake a look at this screenshot! It's the simple "MACD" indicator from the indicators list of MT4.
I compared the signals and they are not the same on your version and this what I call "oscillator".
 
SnaiPear:
FX5: I don't know then what it's called, but thake a look at this screenshot! It's the simple "MACD" indicator from the indicators list of MT4.
I compared the signals and they are not the same on your version and this what I call "oscillator".

The indicator in you chart is the regular MACD, which is used in my indicator. The diffirance is in shape only. My indicator plots MACD as a line instead of the histogram in your chart.

If you are more comportable with the histogram, you can modify the code to change how do you want MACD to appear.

Change the following code:

   SetIndexStyle(2, DRAW_LINE);

to:

   SetIndexStyle(2, DRAW_HISTOGRAM);

and you will have it done :-)

 
Okay, you got me there. It was too late when i looked at the results I guess ;) But finally I decided to stick to the histogram version so I made the needed corrections. Thanks for replying and posting these indicators! They are very very useful!
 

"Changes to verion 1.1: This version is directed to traders who do not want repainted singals. The signals are not repainted buy they are delayed one candle. "

Is it not possible to have a version which has the best best of both worlds? I.e. One that doesn't repaint, whilst not being delayed by a candle.

Thanks.
 
hi...i am using the indicator for sometime now, could you tell me which timeframe its best used on, i check all the timeframes, but find 5 mins comfortable. Also, there are some hidden signals given, which are not the classic MACD divergence, how relaible are those, would apprectiate your reply.
thanks
 
ashishbhatia:
hi...i am using the indicator for sometime now, could you tell me which timeframe its best used on, i check all the timeframes, but find 5 mins comfortable. Also, there are some hidden signals given, which are not the classic MACD divergence, how relaible are those, would apprectiate your reply.
thanks


I prefer using it on higher timeframes. In my openion 4Hr is the best timeframe for this indicator.

Regarding your second question, I heard that some traders trade only hidden divergens so it reliable as the classical divergence.

Good Luck,

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