This is a fast version of the MACD BB Lines indicator. The MACD settings and the band period, the multiplier for the standard deviation, the dotsize and all colors can be selected.
Different colors can be selected for a rising and falling MACD and for dots outside and inside the Bollinger Bands. The zeroline crosses are indicated by large dots. The zeroline itself can be used as a trend filter.
Paint Bars: The price bars can be painted in the same color as the dots. To allow for differentiating downcloses from upcloses, downcloses are filled while upcloses are hollow bars. The opacity for the upcloses can be selected.
Alerts: Breakouts from the Bollinger Band (violation dots) can be indicated with arrows or sound alerts. A sound alert for zeroline crosses has also been added.
This indicator can also be used on multiseries charts or charts with equidistant bar spacing set to "false".
The default colours are adapted to dark backgrounds. Please change them, if you use the MACDBBLines on a lighter background.
The sound files are included with the zip file. You have to unzip them manually and copy them to the NinjaTrader sounds directory.
Update April 5, 2011: You can now select different colors for
- rising MACD below upper Bollinger Band
- rising MACD above upper Bollinger Band (trending)
- falling MACD above lower Bollinger Band
- falling MACD below lower Bollinger Band (trending)
Update July 17, 2011: Indicator simplified.
Update September 6, 2011: Options for customizing plots added.
Update February 8, 2011: Paintbars added.
Update May 17, 2012: Arrows and sound alerts added. Opacity for upclose paint bars is selectable.
Here is another version of the MACD BB with paint bars added. Nothing earth shattering by any means, but the Paint bars are a nice feature.
When the MACD moves outside of the BB's the bars change colors. You will need to make sure bars look back is on infinity and not 250 for historical data.
Fixed Vendor license is out sorry for that, please re-download and let me know if you have any other issues.
MAcd with alert when it crosses 0 line.
Thanks to Richard Housner ( Yahoo thinkorswim )who modified my earlier code. If you choose to modify please post the update for every one to use.
MACDcolors Version 1.1
Author: radi8
Trading Group Affiliation: TeamPIPPEdge
Yes, I know, there are an infinite number of variations on the MACD indicator.
That said, I wanted an MACD that I could define overbought and oversold conditions for. That is difficult to do given the different tick sizes of various instruments. So I created a normalized MACD. So this will plot with similar values whether you are trading the 6J or the YM. With this in mind, you can establish OB/OS levels in the indicator. The indicator will trigger alerts when there is a crossover in OB/OS territory. In general, I've found that values between 5 and 10 are good for the OB/OS levels. When a crossover happens in this region, a trend reversal is more likely. When the indicator is moving between the OB/OS levels, it is generally not a great time to enter the market.
Also, I like simple. So this indicator just shows one colored plot. It changes colors when the MACD and AVE plots cross, showing only one line. I still include all the normal data series you can access (Default, Ave, Diff). There are several DataSeries you can access for strategies as well as for market analyzers. You can also define time zones for the alerts. If there is a particular strategy you trade off the MACD that is time sensitive, this will allow you to define that time block when you would like to be alerted.
The screenshot shows this indicator with my CandleStickDoctor indicator.
Cheers!
radi8
UPDATE (1/31/17)
I found a small bug with the time logic that I corrected. If you want the indicator to generate signals at all times, set all the time bins to -1.
Also added the ability to select different MA's as the source for the MACD.
# MACD Dots on Price Chart
# Shows Primary Signals only. Once a BuyAlert is issued another BuyAlert cannot be issued until after a SellAlert has been issued, etc.
# Change Displace value below to adjust where Dots are placed on the Price Chart