MACD_Colored Indicator for 4 Hour Strategy (300+ Pips per Month) @ Forex Factory

irusoh · #1 Mar 6, 2007 2:25pm

I have created a new version of MACD for 4 Hour Strategy
I put it here in separate thread, so maybe it wil be easier to find.

1. I added new parameter MinDiff which if set greater than zero will color yellow those lines which differ from a prior bar by less than a set amount.

2. I added a number that will show at 1st bar. This number tells how many pips up or down price has to go for a bar to change color

Here it is.

Let me know if you have any problems.

This a link to 4 Hour Strategy (300+ Pips per Month)

Palmer · #2 Mar 6, 2007 3:07pm

Cool stuff man. Does the value on the MACD bar change with the price change? Nevermind, just got my question answered. Hmmm, set an audible alert for the price differnence/level...

Golfer · #3 Mar 6, 2007 3:09pm

Quote:

Originally Posted by irusoh

I have created a new version of MACD for 4 Hour Strategy
I put it here in separate thread, so maybe it wil be easier to find.

1. I added new parameter MinDiff which if set greater than zero will color yellow those lines which differ from a prior bar by less than a set amount.

2. I added a number that will show at 1st bar. This number tells how many pips up or down price has to go for a bar to change color

Here it is.

Let me know if you have any problems.

This a link to 4 Hour Strategy (300+ Pips per Month)

I don' understand bullet 1 - could you please explain it becasue I don't see difference between your MACD and Phillip's MACD colours.

Tx

Willem

jarroo · #4 Mar 6, 2007 3:19pm

Quote:

Originally Posted by irusoh

I have created a new version of MACD for 4 Hour Strategy
I put it here in separate thread, so maybe it wil be easier to find.

1. I added new parameter MinDiff which if set greater than zero will color yellow those lines which differ from a prior bar by less than a set amount.

2. I added a number that will show at 1st bar. This number tells how many pips up or down price has to go for a bar to change color

Here it is.

Let me know if you have any problems.

This a link to 4 Hour Strategy (300+ Pips per Month)

I don't see the yellow lines.

Jim

irusoh · #5 Mar 6, 2007 3:40pm

Quote:

Originally Posted by jarroo

I don't see the yellow lines.

Jim

you can set MinDiff=0.5 if you consider that too small a difference between 2 bars for exmaple.

if bar1 is 10.6 and bar2 is 10.8 then bar2 will be colored yellow since difference less than MinDiff parm.
MACD is difference between 2 MAs in pips. So it could be 1 pip. That's might even hard to see on some charts. So you can conisder it negligeable.
On the other hand some people want to see all changes, then leave MinDiff at zero, it will display as an old inidcator.
By the way the old ind MACD_H4_300 is also my creation (to avoid confusion).

jarroo · #6 Mar 6, 2007 3:42pm

Quote:

Originally Posted by irusoh

you can set MinDiff=0.5 if you consider that too small a difference between 2 bars for exmaple.

if bar1 is 10.6 and bar2 is 10.8 then bar2 will be colored yellow since difference less than MinDiff parm.
MACD is difference between 2 MAs in pips. So it could be 1 pip. That's might even hard to see on some charts. So you can conisder it negligeable.
On the other hand some people want to see all changes, then leave MinDiff at zero, it will display as an old inidcator.
By the way the old ind MACD_H4_300 is also my creation (to avoid confusion).

Oh, I see. Thanks.

Jim

Golfer · #7 Mar 6, 2007 3:45pm

Quote:

Originally Posted by irusoh

you can set MinDiff=0.5 if you consider that too small a difference between 2 bars for exmaple.

if bar1 is 10.6 and bar2 is 10.8 then bar2 will be colored yellow since difference less than MinDiff parm.
MACD is difference between 2 MAs in pips. So it could be 1 pip. That's might even hard to see on some charts. So you can conisder it negligeable.
On the other hand some people want to see all changes, then leave MinDiff at zero, it will display as an old inidcator.
By the way the old ind MACD_H4_300 is also my creation (to avoid confusion).

Irusoh

Tx, that makes sense. Great work with the indicator - very easy to read. How do you set the MinDiff (sory but I am not very computer/MT4 literate)?

Willem

jarroo · #8 Mar 6, 2007 3:47pm

Quote:

Originally Posted by irusoh

you can set MinDiff=0.5 if you consider that too small a difference between 2 bars for exmaple.

if bar1 is 10.6 and bar2 is 10.8 then bar2 will be colored yellow since difference less than MinDiff parm.
MACD is difference between 2 MAs in pips. So it could be 1 pip. That's might even hard to see on some charts. So you can conisder it negligeable.
On the other hand some people want to see all changes, then leave MinDiff at zero, it will display as an old inidcator.
By the way the old ind MACD_H4_300 is also my creation (to avoid confusion).

Have you see this post(#1828) from Phillip Nel :

"Can someone write us an alert that when the MACD makes a direction change at the close of a MACD bar than the previous 2 MACD bars. This will help during sleeping time to catch the actual one and not have to get up every 4 hours during the night. Maybe someone has a better idea.
Thanks"

Your help in this matter would be appreciated.

Thanks again,

Jim

irusoh · #9 Mar 6, 2007 3:48pm

Quote:

Originally Posted by Golfer

Irusoh

Tx, that makes sense. Great work with the indicator - very easy to read. How do you set the MinDiff (sory but I am not very computer/MT4 literate)?

Willem

You set it when inputs window comes up at first. Just click on Inputs, double-click on MinDiff and set.

irusoh · #10 Mar 6, 2007 3:49pm

Quote:

Originally Posted by jarroo

Have you see this post(#1828) from Phillip Nel :

"Can someone write us an alert that when the MACD makes a direction change at the close of a MACD bar than the previous 2 MACD bars. This will help during sleeping time to catch the actual one and not have to get up every 4 hours during the night. Maybe someone has a better idea.
Thanks"

Your help in this matter would be appreciated.

Thanks again,

Jim

I will look into it.

Golfer · #11 Mar 6, 2007 4:01pm

Quote:

Originally Posted by irusoh

I will look into it.

Hi Irusoh

Tx for all your efforts. Do appreciate it. Glad we do have experts like you - make trading a fun exercise.

Willem

irusoh · #12 Mar 6, 2007 4:05pm

I just uploaded corrected version AGAIN
Sorry for reposting. Apparently EMA need the whole price array to recalculate itslef corretly.
The old one was printing some debugging messages in the expert log.
Get It from the first post.

irusoh · #13 Apr 9, 2007 10:31am

This is an new version of MACD colored indicator.
It includes signals and alerts.

All explanations are in macd_colored.doc attached.

Please download and test. Post me here with any questions.

alcastro · #14 Apr 9, 2007 10:36am

Quote:

Originally Posted by irusoh

This is an new version of MACD colored indicator.
It includes signals and alerts.

All explanations are in macd_colored.doc attached.

Please download and test. Post me here with any questions.

This look is very helpful.

Thanks for your efforts.

tradeigel · #15 Apr 9, 2007 11:03am

great! Thanks a lot.

Quote:

Originally Posted by irusoh

I have created a new version of MACD for 4 Hour Strategy
I put it here in separate thread, so maybe it wil be easier to find.

1. I added new parameter MinDiff which if set greater than zero will color yellow those lines which differ from a prior bar by less than a set amount.

2. I added a number that will show at 1st bar. This number tells how many pips up or down price has to go for a bar to change color

Here it is.

Let me know if you have any problems.

This a link to 4 Hour Strategy (300+ Pips per Month)