The Reverse MACD Cross + Histogram Divergence is in essence the same MACD you all know and love with two added features which can be used to assist the end-user in their decision making for entry, exit and risk management.
The first feature is a Reverse MACD Cross price, which very basically is a smoothed reverse engineered calculation of the MACD Signal Line in relation to the current price level. At a glance this can then be used to determine the closing price level needed in order to cross the MACD either up or down.
The second feature is visual MACD Histogram regular as well as hidden divergences. This feature was added as MACD histogram divergences are not as easy to
spot as on the RSI for example, and can help the end-user train their eyes in order to spot them more accurately.
Divergence colors and description:
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Green : Regular Bullish Divergence
White : Hidden Bullish Divergence
Red : Regular Bearish Divergence
Orange : Hidden Bearish Divergence
Optional settings include:
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1.) Show the Histogram only (Hide the MACD and Signal lines)
2.) Show/Hide the Reverse MACD Cross label
3.) Change the Reverse MACD Cross label text size
4.) Change the Reverse MACD Cross label left margin
5.) Show/hide the Reverse MACD Cross label currency
6.) Change the Reverse MACD Cross label decimal value
7.) Show/hide the MACD Histogram Divergence lines
8.) Change the MACD Histogram Divergence line offset
9.) Show/hide the MACD Histogram Divergence arrows
10.) Change the MACD Histogram Divergence arrow offset
11.) Change the MACD Histogram Divergence lookback (No. of bars to lookback)
Please PM me to obtain access.
The first feature is a Reverse MACD Cross price, which very basically is a smoothed reverse engineered calculation of the MACD Signal Line in relation to the current price level. At a glance this can then be used to determine the closing price level needed in order to cross the MACD either up or down.
The second feature is visual MACD Histogram regular as well as hidden divergences. This feature was added as MACD histogram divergences are not as easy to
spot as on the RSI for example, and can help the end-user train their eyes in order to spot them more accurately.
Divergence colors and description:
------------------------------------------
Green : Regular Bullish Divergence
White : Hidden Bullish Divergence
Red : Regular Bearish Divergence
Orange : Hidden Bearish Divergence
Optional settings include:
-------------------------------
1.) Show the Histogram only (Hide the MACD and Signal lines)
2.) Show/Hide the Reverse MACD Cross label
3.) Change the Reverse MACD Cross label text size
4.) Change the Reverse MACD Cross label left margin
5.) Show/hide the Reverse MACD Cross label currency
6.) Change the Reverse MACD Cross label decimal value
7.) Show/hide the MACD Histogram Divergence lines
8.) Change the MACD Histogram Divergence line offset
9.) Show/hide the MACD Histogram Divergence arrows
10.) Change the MACD Histogram Divergence arrow offset
11.) Change the MACD Histogram Divergence lookback (No. of bars to lookback)
Please PM me to obtain access.
Versionsinformation:
Under the hood tweaks for better performance
Versionsinformation:
Added the ability to change the MACD Cross Value Text Color in the settings to suit your chart style preferences.
Versionsinformation:
More under the hood tweaks for better performance
Versionsinformation:
Code tidy up, and performance tweaks.
Versionsinformation:
Code tidy up
Versionsinformation:
Under the hood performance enhancements
Versionsinformation:
Under the hood tweaks to the divergence algorithm to improve performance
Versionsinformation:
Under the hood performance enhancements