The MACD XOver indicator was developed by John Bruns to predict the price point at which MACD Histogram will reverse the direction of its slope.
The indicator is plotted one day ahead into the future, allowing, if your strategy depends on MACD Histogram, to predict its reversal point for tomorrow (or the next bar in any timeframe). If the closing price tomorrow is above the value of this indicator, then MACD Histogram will tick up. If the closing price tomorrow is below the value of this indicator, then MACD Histogram will tick down. This is especially useful on the charts of the longer timeframes and when using the Impulse system whose color depends in part on the slope of MACD Histogram.
Use the same values as the MACD Combo which you want to anticipate. If you use the default values, then accept the values below.
Parameters:
MACD_Short_Period(12) – The short EMA for the MACD calculation; MACD_Long_Period (26) – The long EMA for the MACD calculation; MACD_Smoothing_Period (9) – The smoothing value for the Signal line; Time_Ratio (1) – The default here is set to 5 (weekly)
Why does the code says "long 24".... whereas the parameters are set to macd 12 26 9?
dotnumber
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hey this is a great indicator..i do have a question tho.. for ltf like 5 to 15 min...what would you recommend for time ratio...1 2 or bigger...and i dont know time ratio whats the use or how it works i dont see any explanation on it..thus had to ask you whether to go lower or higher time ratio on ltf. thanks