Elder MACD XOver

The MACD XOver indicator was developed by John Bruns to predict the price point at which MACD Histogram will reverse the direction of its slope.

The indicator is plotted one day ahead into the future, allowing, if your strategy depends on MACD Histogram, to predict its reversal point for tomorrow (or the next bar in any timeframe). If the closing price tomorrow is above the value of this indicator, then MACD Histogram will tick up. If the closing price tomorrow is below the value of this indicator, then MACD Histogram will tick down. This is especially useful on the charts of the longer timeframes and when using the Impulse system whose color depends in part on the slope of MACD Histogram.

Use the same values as the MACD Combo which you want to anticipate. If you use the default values, then accept the values below.

Parameters:

• MACD_Short_Period(12) – The short EMA for the MACD calculation;
• MACD_Long_Period (26) – The long EMA for the MACD calculation;
• MACD_Smoothing_Period (9) – The smoothing value for the Signal line;
• Time_Ratio (1) – The default here is set to 5 (weekly);
• Wingding_Symbol (159) – Symbol to be displayed.