MACDAD

This indicator provides you with MACD formula applied to volume-aware Accumulation/Distribution and OnBalance Volumes indicators. In addition to tick volumes it supports special pseudo-real volumes, synthesized for Forex symbols where real volumes are unknown. More details on the volume surrogates may be found in description of another indicators - TrueVolumeSurrogate and OnBalanceVolumeSurrogate (algorithm of the latter is used internally in MACDAD for AD and OBV calculation before they proceed to MACD formula).

The indicator shows a histogram of MACD itself, red signal line, and yellow dotted oscillating line, which visualizes a difference between the histogram and the signal line.

Parameters

• FastMA - fast period, by default - 12;
• SlowMA - slow period, by default - 26;
• SignalMA - signal line period, by default - 9;
• FastSlowMAMethod - fast and slow moving average method, by default - exponential;
• SignalMAMethod - signal moving averaging method, by default - simple;
• PriceType - applied price type (applicable only if UseVolumes is none, see below), by default - Close;
• UseVolumes - mode selector: none - standard MACD built on pure price, OBV - MACD built on OBV curve, AD - MACD built on AD curve; by default - none; when it's OBV or AD, PriceType makes no sense and takes no effect;
• SurrogateVolumes - enable/disable usage of surrogate volumes; by default - false (tick volumes); it takes effect only if UseVolumes is OBV or AD;

Screenshots

On the screenshots below, the indicator is demonstrated with various settings on the same chart EURUSD H1.

1. default settings, UseVolumes = none, MACD is built on price;
2. UseVolumes = OBV, SurrogateVolumes = false;
3. UseVolumes = AD, SurrogateVolumes = false;
4. UseVolumes = OBV, SurrogateVolumes = true;
5. UseVolumes = AD, SurrogateVolumes = true;