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MACD Converter

MACD Converter is an analogue of the MACD Message with more advanced functionality:

It has two signal lines: Signal Line 1 and Line 2, bar outlines are colored according to Line 1, it also triggers the trend notifications.

MACD Converter converts the parameters of Fast MA, Slow MA and Signal Line 1 and Line 2 lines from the interval specified in the settings (Convert Time Frame) to smaller timeframes. This allows receiving a signal for making a decision within the specified (Convert Time Frame) bar.

The indicator reports the divergence of a weakening trend with the price at the last bar - the Divergency optional function.

The outline of the bars is colored according to the trend. The histogram color can be changed according to the settings:

  1. Convergence-Divergence – when Fast MA and Slow MA converge/diverge.
  2. Trend MA – when there is a change in the inclination angle of the Fast MA or Slow MA individually or both together.
  3. Signal Lines – when there is a change in the inclination angle of the Signal Line 1 or Line 2 individually or both together, as well as at their intersection.
  4. Momentum - at values of Momentum, corresponding to periods: Fast MA – Momentum Fast or Slow MA - Momentum Slow individually, both - crossing the level 100.
  5. Close Bars - when bars close above/below the Fast MA, Slow MA individually or both together.
  6. Volumes - when the tick volumes in bars increase: bullish – positive signal, bearish - negative signal.

Parameters of the Color Histogram MACD can be used individually, together or can be disabled.

The built-in function of notification parameters allows tracking the signals:

  • Beginning of an uptrend — MACD bars move from negative area (below zero) to positive area;
  • Beginning of a downtrend — MACD bars move from positive area (above zero) to negative area;
  • Weakening uptrend – bars are in the positive area but are formed below the signal line;
  • Prevailing uptrend – growth of bars in the positive area above the signal line;
  • Weakening downtrend – bars are in the negative area but are formed above the signal line;
  • Prevailing downtrend – fall of bars in the negative area below the signal line.
  • Downwards divergence – growth of the price on the last bar is higher than on the previous one in the weakening uptrend.
  • Upwards divergence – fall of the price on the last bar is lower than on the previous one in the weakening downtrend.
  • Signal of the indicator bars is positive – the sum of the selected parameters of the Color Histogram gives a positive signal.
  • Signal of the indicator bars is negative – the sum of the selected parameters of the Color Histogram gives a negative signal.
  • Signal of the indicator bars is missing – the sum of the selected parameters of the Color Histogram does not give a signal.

Conversion of the set parameters, example – (12.26.5.9):

If parameter 'Current' was selected in the 'Convert Time Frame' parameter, then the indicator is working in the set parameters mode on every timeframe. For example, we set 12.26.5.9 and the indicator will be working with these parameters on all the timeframes further along.

If, let's say, parameter '1 Day' was selected in the 'Convert Time Frame' parameter, then on the D1 timeframe and higher, the indicator will be working in the mode of the parameters mentioned above. Windows W1 and MN of the indicator will be showing MACD (12.26.5.9); the "NOT CORRECT TIME FRAME" warning message will appear in the main window, i.e. the indicator does not recalculate the specified parameters.

Windows of the smaller timeframes (H4 … M1) will display MACD (D1.12.26.5.9). Parameters (12.26.9) will be recalculated for shorter intervals as much as the number of bars in the chart window allows. So, if there are 5000 bars in the window and the indicator recalculated one of the parameters for 7000, then the indicator readings will not be correct. The "INDICATOR DATA INCORRECT" error message in the main chart window together with an error sound signal will alert about it, which can be disabled in the indicator properties window (Sound Error = False).

The figures below represent price labels of the received signals on closing bars in the D1, H4 and H1 intervals accordingly. Please pay attention at the opportunity of a more accurate market entry from smaller timeframes. I believe that the effect of the conversion of the MACD Converter data will make more your trading more efficient.

Good luck in trading!

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版本 1.1 - 2017.04.13
Added a second signal line. The histogram color can be changed according to the settings in the properties window: when the moving averages converge/diverge, when their inclination angle changes, when signal lines cross, when the Momentum values corresponding to the indicator parameters cross the level 100, when the tick volumes increase in bars.