Standard MACD version that can be located by setting the indicator timeframe value different from the chart one. The indicator also allows traders to select histogram and signal line smoothing algorithms out of ten possible variants:
SMA – simple moving average;
EMA – exponential moving average;
SMMA – smoothed moving average;
LWMA – linear weighted moving average;
JJMA – JMA adaptive average;
JurX – ultralinear smoothing;
ParMA – parabolic smoothing;
T3 – Tillson’s multiple exponential smoothing;
VIDYA – smoothing with the use of Tushar Chande’s algorithm;
AMA – smoothing with the use of Perry Kaufman’s algorithm.
It should be noted that Phase1 and Phase2 parameters have completely different meaning for different smoothing algorithms. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect smoothing. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.
The color of the histogram and the signal line is changed depending on the current market situation.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
This indicator was first implemented in MQL4 and published in the article Effective Averaging Algorithms with Minimal Lag: Use in Indicators and Expert Advisors 03.03.2009.
Place ColorXMACD.mq5 to the terminal_directory\MQL5\Indicators.
Fig.1. ColorXMACD_HTF with ReDraw parameter equal to false
Fig.2. ColorXMACD_HTF with ReDraw parameter equal to true
