MACD Histogram for Renko charts

March 11th, 2015, 02:30 PM

I am trying to find an NT MACD indicator that puts the emphasis on the Histogram not the MACD line. I have attached a chart from MT4 showing their bog standard MACD Indi on a 3 pip Renko chart, this is what I am trying to match up to. I have tried all the MACD Indis that I can find here on BMs and the closest I can get is with Fat Tails MACD UniversalX2, an NT 3 Pip Better Renko chart attached, as you can see the end result is not even remotely similar.

I am baffled as to why they should be so different, is it because of the Better Renko bars, there is even a slight difference between the stochastics but much less noticeable.

Can any one throw any light on this for me or is there a work around with one of the standard NT Macds.

Any help would be appreciated

PS. To save time I have put all the MACDs I can find on 1 chart, none of them look similar to the MT4 one.

March 11th, 2015, 04:49 PM

The NT MACD histogram's you depict in your attachments are calculated by taking the difference between the MACD line and it's Signal line.

The MACD Histogram you are plotting with MT4 is the actual MACD line, plotted as a histogram. (not the difference line).

Using the standard MACD indicator in NT, you can adjust the plot settings as follows to match your MT4 indicator:

March 11th, 2015, 05:01 PM

trendwaves

The NT MACD histogram's you depict in your attachments are calculated by taking the difference between the MACD line and it's Signal line.

The MACD Histogram you are plotting with MT4 is the actual MACD line, plotted as a histogram. (not the difference line).

Using the standard MACD indicator in NT, you can adjust the plot settings as follows to match your MT4 indicator:

Thank you very much, you are an absolute gentleman. It is always easy when you know how.

MACD Histogram for Renko charts

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MACD Histogram for Renko charts