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Don't know how many of you have noticed this, but the MACD line in the MACD indicator that Ninja offers is not just the difference between the slow and fast EMAs. It is (I think) what is called the MACD histogram.
If what I am saying makes sense, would someone be willing to build a MACD for which the MACD line is composed only of the slow and fast EMAs, without it being 'smoothed' by the signal line.
So, what I am looking for is:
1) MACD line = difference between slow and fast EMAs,
2) A signal line which has a separate parameter, and does not 'smooth' the MACD line.
3)the ability to plot the MACD line as a histogram (though it would not be what is called "MACD Histogram"-see below) Plotted thusly, the histogram would cross the '0' line wherever the two EMAs cross.
4) of course, all EMAs would be user-definable.
Here is how Stockcharts.com defines these with standard parameters:
MACD: (12-day EMA - 26-day EMA)
Signal Line: 9-day EMA of MACD
MACD Histogram: MACD - Signal Line
Thanks for your help, if only to straighten out anything I've got wrong here.
strider
Can you help answer these questions from other members on NexusFi?
Hi Jeff,
Looks great. Is is available on futures.io (formerly BMT)? Guess I could go look
I like the looks of that moving average line that changes colors for up/down also.
Yes.......it has a lot of "features"........TMFT created it for me on the "Create My Indicator for Free" thread......he did a great job.
You can download it in the elite downloads.......it is called Tsi4JeffFromTMFT...........just go on the elite downloads and hit the "T" and you'll see it ......first one on the top of the page.
Oh......almost forgot.......Fattails also created a great MACD......it is called MACDdeLuxe............this one was also created in the "Create My Indicator for Free" thread........this one is also very impressive.