HPotter

Ergotic MACD Strategy

906 0 98
This is one of the techniques described by William Blau in his book
"Momentum, Direction and Divergence" (1995). If you like to learn more,
we advise you to read this book. His book focuses on three key aspects
of trading: momentum , direction and divergence. Blau, who was an electrical
engineer before becoming a trader, thoroughly examines the relationship
between price and momentum in step-by-step examples. From this grounding,
he then looks at the deficiencies in other oscillators and introduces some
innovative techniques, including a fresh twist on Stochastics. On directional
issues, he analyzes the intricacies of ADX and offers a unique approach to help
define trending and non-trending periods.

Blau`s indicator is like usual MACD , but it plots opposite of meaningof
stndard MACD indicator.
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 17/07/2014
// This is one of the techniques described by William Blau in his book
// "Momentum, Direction and Divergence" (1995). If you like to learn more,
// we advise you to read this book. His book focuses on three key aspects
// of trading: momentum, direction and divergence. Blau, who was an electrical
// engineer before becoming a trader, thoroughly examines the relationship 
// between price and momentum in step-by-step examples. From this grounding,
// he then looks at the deficiencies in other oscillators and introduces some
// innovative techniques, including a fresh twist on Stochastics. On directional 
// issues, he analyzes the intricacies of ADX and offers a unique approach to help 
// define trending and non-trending periods.
// Blau`s indicator is like usual MACD, but it plots opposite of meaningof
// stndard MACD indicator. 
////////////////////////////////////////////////////////////
study(title="Ergotic MACD Strategy")
r = input(32, minval=1)
SmthLen = input(5, minval=1)
hline(0, color=blue, linestyle=line)
source = close
fastMA = ema(source, r)
slowMA = ema(source, 5)
xmacd = fastMA - slowMA
xMA_MACD = ema(xmacd, 5)
pos =	iff(xmacd < xMA_MACD, 1,
	    iff(xmacd > xMA_MACD, -1, nz(pos[1], 0))) 
barcolor(pos == -1 ? red: pos == 1 ? green : blue )
plot(xmacd, color=green, title="Ergotic MACD")
plot(xMA_MACD, color=red, title="SigLin")
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