Patternsmart

Reverse Engineering MACD, by Patternsmart.com


The Reverse Engineering MACD study is a trend following indicator based on analysis of MACD (Moving Average Convergence/Divergence) changes. This indicator consists of three main plots: PMACDeq, PMACDlevel, and PMACDsignal.

PMACDeq plot represents price of the current bar at which its MACD value would be equal to the previous one. PMACDlevel plot represents price of the current bar at which its MACD value would be equal to the specified one. PMACDsignal plot represents the price of the current bar at which its MACD value would be equal to its average.

These three plots are accompanied with an auxiliary plot showing averaged values of PMACDeq. Note that the type of average is the same as the specified for MACD calculation.

Input Parameters:

price The price for which MACD is calculated.
fast length The number of bars used to calculate the fast moving average.
slow length The number of bars used to calculate the slow moving average.
macd length The number of bars used to calculate the moving average of MACD .
macd level MACD value used in PMACDlevel calculation.

////////////////////////////////////////////////////////////
// Technical Analysis & Research Patternsmart.com
//
// Custom indicators, Strategies, SCAN, Screener, Backtesting, Converting service for:
// Tradingview, NinjaTrader, Thinkorswim, MetaTrader, MetaStock, Multicharts, Prorealtime, etc.
//
// If you want to customise this indicator, please contact us.
////////////////////////////////////////////////////////////
Remove from Favorite Scripts Add to Favorite Scripts
can you please explain how to trade with this indicator?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out