How does iMACD MODE_SIGNAL work?

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Tucaninho
22
Tucaninho  

Hi all,


I am pretty new to forex and MQL4, I tried to find an answer to my question using google and the search button but didn't find anything useful.

My question is, what value does MODE_SIGNAL give when using iMACD?

The reason why I am asking is that I am comparing those values, to the one that MACD_Histogram (that I have by default as part of MT4) plots on screen.


MACD_Histogram draws 2 lines, a blue and a red one.


When I use iMACD MODE_MAIN, the value matches the blue line.

When I use MODE_SIGNAL, the value doesn't match any of the MACD_Histogram values


For example, using EURUSD on H4 (2019.05.17 20:00), on the indicator I get -0.001191 on the blue and -0.000842 on the red.

Using iMACD I get -0.001191 on MODE_MAIN and -0.000807 on MODE_SIGNAL


I can calculate the signal value to match the indicator (it comes with the source code), which is probably what I will do, but I would like to understand what I am missing.


Thanks a lot

Konstantin Nikitin
12304
Konstantin Nikitin  
iMACD There may be different parameters? MODE_SIGNAL is drawn in different ways.
Tucaninho
22
Tucaninho  

in the MACD_Histogram Signal is calculated with this formula:

SignalLineBuffer[i] = alpha*MACDLineBuffer[i] + alpha_1*SignalLineBuffer[i+1];


with:

alpha = 2.0 / (SignalMAPeriod + 1.0);

alpha_1 = 1.0 - alpha;


The modes I can use are only 0-MODE_MAIN, 1-MODE_SIGNAL, so not sure what I can change there. In the notes it says that somewhere it's called MACD histogram, that's why I was assuming it would give the same values

Mladen Rakic
139429
Mladen Rakic  
Tucaninho:

in the MACD_Histogram Signal is calculated with this formula:

SignalLineBuffer[i] = alpha*MACDLineBuffer[i] + alpha_1*SignalLineBuffer[i+1];


with:

alpha = 2.0 / (SignalMAPeriod + 1.0);

alpha_1 = 1.0 - alpha;


The modes I can use are only 0-MODE_MAIN, 1-MODE_SIGNAL, so not sure what I can change there. In the notes it says that somewhere it's called MACD histogram, that's why I was assuming it would give the same values

That is simply EMA of MACD
Konstantin Nikitin
12304
Konstantin Nikitin  
Use iCustom for a custom indicator.
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