This indicator is configurable as a conventional MACD. It is also possible to delete elements of the display such as the MACD itself, its signal line, or histograms.
The histograms change color according to the progression. They are green when the progression of the histograms is bullish, or red in the opposite case, but these colors are purely indicative. They can be changed upwards, downwards, and differentiated in the positive or negative part of the window. The implementation of this indicator is relatively simple. Once downloaded, place it in your indicators directory, and drag it on the chart of your choice …
How the MACD Color Alert works
The indicator consists of three distinct components. They can be independently displayed according to your choice, it is possible to set three types of alert, which allows you to scan a wider product panel for a higher number of units of time. Do not miss any signal on the strategy of Trading MACD,
In addition, it is possible to translate alerts for display in your language.
- FastEMA – SlowEMA – SignalSMA : Basic settings of the indicator.
- ShowHistograms – ShowMACDLine – ShowSignalLine : Show or hide each component of the indicator
- RealTimeAlert : Real-time alert (True) – Alert to Close (False)
- Alert_Macd_Cross_Signal : Generate an alert if the MACD crosses its signal line.
- Alert_Macd_Cross_zero : Generate an alert if the MACD crosses its line 0.
- Alert_Histo_Change : Generate an alert if the histograms change direction.
- Level_Up : Level above which the Bearish Histogram Alert will be generated.
- Level_Down : Level below which the Bullish Histogram Alert will be generated.
- Translate the alerts here : Translate each alert into your language
The alerts are presented in an appendix window and gives you the underlying, and the unit of time that generated the alert.
This indicator also exists in free version without the alert function : IK_MACD_Color