MACD Slow Stochastic Overlay

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MACD Slow Stochastic Overlay

Postby Apprentice » Sat Oct 06, 2018 11:38 am

EURUSD H1 (04-02-2018 0343).png

Up Trend
K-line has upslope
MACD Histogram line has upslope
Down Trend
K-line has downslope
MACD Histogram line has downslope
else
Neutral Trend
MACD Slow Stochastic Overlay.lua
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MT4/MQ4 version
viewtopic.php?f=38&t=66828
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Re: MACD Slow Stochastic Overlay

Postby jrichardson83 » Sun Oct 07, 2018 7:59 pm

Apprentice,

I realized the explanation for the overlay rules was probably not very clear. So, its probably simpler to say it this way. The main body of the overlay is based off of the MACD Histogram (not the Histogram line) closing in relationship to the prior close. The Slope of the K-Line can be completely disregarded altogether.

For the SSD I'm only interested in the candle that initially enters into Overbought/Oversold territory and the candle that exits (Like bookends) So,

If MACD Histogram Current close < Prior Close = DOWNTREND
If MACD Histogram Current close > Prior Close = UPTREND

The SSD will only be used to indicate which price candle has ENTERED INTO and CLOSED in either Overbought or Oversold territory and then which candle has EXITED OUT OF and CLOSED below or above the Overbought or Oversold lines respectively. The color change will ONLY apply to that candle. It can be labeled OB/OS candle and will be given a color.

So, there really isn't a true neutral trend overlay. The main overlay is based solely on the close of the MACD Histogram bars (Not Slope of the Line) in relationship to the previous close. And there will only be two signals for the SSD, when it has entered and exited OB/OS territory.

In the image the red and blue dashed line show which candle has closed either in or exited out of the OB/OS territory.

The Shaded Red box shows the general downtrend based on the MACD Histogram.
The Shaded Green box shows the general uptrend based on the MACD Histogram.

The solid red and green lines show the candles within the trends where the MACD Histogram closed higher than the previous low in a downtrend or lower than the previous high in an uptrend. For example there are about 83 bars in that green uptrend and only 5 of those closing bars had lower closes than the one prior to it.

Overlay.png
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Re: MACD Slow Stochastic Overlay

Postby Apprentice » Mon Oct 08, 2018 5:42 am

Your request is added to the development list under Id Number 4266
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Re: MACD Slow Stochastic Overlay

Postby DanPhi74 » Wed Oct 10, 2018 4:59 am

Great Job !!
could you code it for MT4 please ?
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Re: MACD Slow Stochastic Overlay

Postby Apprentice » Wed Oct 10, 2018 12:56 pm

Your request is added to the development list under Id Number 4269
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Re: MACD Slow Stochastic Overlay

Postby DanPhi74 » Tue Oct 16, 2018 5:30 pm

Many Thanks Guys !
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