The MACD is one of the stable indicators around which many strategies have been developed.
In an attempt to apply some market sentiment indications to it I decided to apply the Ichimoku concepts to it's values.
Instead of re writing how to use Ichimoku I suggest you have a look at an extremely good source of information
at Ichimoku Wiki and you can then read this indicator with a full understanding.
On the attached chart I have noted a basic view on a movement just to give you an idea of how one may read the information presented.
The indicator itself uses the same auto shading code that I use to make shades float and you will need to allow dll's for that to occur and wait for a new tick or
right click and edit without changing anything and close again on a stationary chart for clouds to float.
Because we are dealing with positive and negative values in MACD, I am constrained with the amount of buffers that I can use to allow shading of every
possibility. This means that while you will always see the SenkouA and B lines, (Boundaries of the Kumo Clouds), occasionally a small amount of shading is clear
when zero line crossovers occur. Nothing to worry about but worth mentioning.
For me this is quite a new way of confirming MACD and I am very happy with the overall information presented. Ichimoku is a bit of a learning curve but a very worthwhile
pursuit and I believe this indicator would be similar. A bit daunting at first but worth the exercise.
Initially I just ran the M5 and M15 strategy tester with a do nothing EA and watched and noted how the indi behaved. After a while you will be surprised how well it tells the story.
I have nearly completed the Stochastic and CCI Ichimokus and released the ADX_Ichimoku on my site a while ago.
This is a normal MACD with Histogram. It's really simple coding but helpfull. I'm not testing on MT5 but i think it's ok with that. Let me know if you're tested.EA PSAR 4B
EA designed on the idea of the indicator Nik_PSAR_2B. EA works on the Symbol = "EURUSD" and Period = M1.
This script will set your stoploss at the fractal level of your choosing. Money management built in helping take some of the guess work out of your trading.ZigZag of Orlov
Zigzag with a simple, clear and natural principle of work. By the Close prices. Without redrawing.