MACD Candles - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
It has no signal lines and no price. Instead, it calculates 4 MACD values (open, close, high, and low) and constructs the MACD as a candle based on these 4 values. The color of the candle (and thus the "trend" the MACD should show) depends on the opening and closing price of the MACD (not the slope or anything like that).
There was a deviation in the calculation: I decided to allow 4 types of averages (although according to Gerald Appel's definition, macd is calculated as ema(fast)-ema(slow)). Therefore, we can also get MACD for sma, smma and lwma - all using the same calculation period.
Attachment download
📎 macd_candles.mq5 (5.9 KB)
Source: MQL5 #16484
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