This oscillator is MQL5 version of ZeroLag MACD indicator, published in Russian section of MQL4 CodeBase.
This indicator provides a signal few bars earlier, compared with standard MACD and its divirgence is much more clear.
Â
Calculation:
ZeroLAG MACD(i) = (2*EMA(Close, FP, i) – EMA(EMA(Close, FP, i), FP, i)) – (2*EMA(Close, SP, i) – EMA(EMA(Close, SP, i), SP, i));
ZeroLAG MACD Signal(i) = 2*EMA( ZeroLAG MACD(i), SigP, i) – EMA(EMA( ZeroLAG MACD(i), SigP, i), SigP, i);
where:
- EMA – exponential moving average;
- Close – close price of the bar;
- FP – period of fast moving average;
- SP – period of slow moving average;
- SigP – period of signal moving average.
Similar MetaTrader Trading Tools:
