Tipu MACD Oscillator is the modified version of the original MACD Oscillator published by MetaQuotes here.
- Choose two types of signals (Zero Line Cross, and Main Signal Cross).
- Choose the type of plot (Histogram, Lines, or Both Lines and Histogram).
- Customizable Buy/Sell alerts, push alerts, email alerts, and visual on-screen alerts.
Add Tipu Panel (found here) and unlock the following additional features:
- An easy to use Panel that shows the trend + signal of the selected time frames.
- Create your own strategy by adding additional Tipu Panel addon indicators.
- Add premium Tipu Trend indicator and get more out of the MACD signals.
- Customizable panel. The panel can be moved to any place on the chart or minimized to allow more space.
MACD Oscillator was devised by Gerald Appel in late 1970s. It is a momentum oscillator that is calculated by subtracting the two price moving average calculated on the price. MACD Oscillator is one of the most simplest indicator that provides best of both trend and momentum.
How to Use
Moving Average Convergence/Divergence (MACD), as the name suggests, is about Convergence and Divergence of two moving averages. There are three ways a MACD can be used:
- Zero Line Cross - MACD zero line cross means the two moving averages cross. For example, when MACD crosses zero line from below, it means that the fast moving average has crossed the slow moving average and has moved up (bullish cross).
- Signal Line Cross - MACD signal line is the simple moving average of the MACD main line and can help signal early change in the trend. For example, when the MACD main line crosses the signal line from below, it means the moving average trend is moving up. This can be used as a buy signal.
- Convergence/Divergence - Divergence occurs when the MACD indicator directional movement is not confirmed by the price action. For example, a bullish divergence occurs when EURUSD makes lower low but the MACD indicator makes higher low. This means that EURUSD is losing momentum and a bullish correction is possible.
- Full description of MACD Oscillator is available here.
MACD = EMA(CLOSE, 12)-EMA(CLOSE, 26)SIGNAL = SMA(MACD, 9)
- Section#1 - MACD Settings, used in Tipu Panel and MACD Plot
- MACD Mode - display mode for MACD, choose Lines, Histogram, or Lines + Histogram
- Fast EMA Period - settings for MACD
- Slow EMA Period - settings for MACD
- Signal SMA Period - settings for MACD
- Applied Price - the calculation is applied to this
- Signal Types
- Zero line cross - will generate a trade signal when the MACD main line crosses zero line. For example, a buy signal will be generated if MACD main line was below zero at the previous analyzing candle and is above zero in the current analyzing candle
- Main Signal Cross - will generate a trade signal when the main line crosses the signal line.
- Mark Buy/Sell Signals - choose Arrow or Vertical Lines or nothing.
- Arrow offset (pips) - (works only if mark the buy/sell signals = Arrow) select value to offset Arrows from high (if sell), and low (if buy). Increasing Arrow Offset (pips) move arrows away from the high/lows.
- Buy/Sell Colors - Colors for the marks
- Section#2 - Multi-Currency Dashboard Settings
- Enable Dashboard? - select true/false
- Colors Settings, Sell Trend Background Color, Sell Font Color, Buy Trend Background Color, Buy Font Color
- Section#3 - Tipu Panel Settings, you need Tipu panel Indicator added to the chart for these settings
- Enable Tipu Panel - choose true/false
- Short name for Tipu Panel - this name will appear on Tipu Panel indicator
- Section#4 - Buy/Sell Global Alert Settings - these settings only affect Tipu Panel and Tipu MACD plot. The alerts for Dashboard are controlled by the settings dialogue of the Dashboard.
- Alert Shift - candle delay for the signal, enter 1 if you want the alert sent after one candle to be passed.
- Alert Mobile - select true/false to get a push notification on your device, make sure the device settings are correct here.
- Alert Onscreen - select true/false to get alerts on the terminal, this alert is shown in a separate window.
- Alert Email - select true/false to get email alerts, make sure email settings are correct here.
Added reset button in settings to reset to default settings
Fixed problem with saving symbols
Introducing 28 symbols, all time frames dashboard, control settings from the dashboard
Compatible with Tipu Panel v2.0, added support for monthly time frame on tipu panel
Fixed zero line cross arrow and alerts.