Color RMCD - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource

In this MACD histogram as a fast moving average the technical indicator RVI is used and the real RVI is a slow moving average indicator using a custom indicator.

The averaging algorithm for signal lines can be changed. There are ten possible variations:

It should be noted that the Phase parameters of different smoothing algorithms have completely different meanings. For JMA, it is an external phase variable that varies from -100 to +100. For T3, it is the smoothed ratio multiplied by 100 for better visualization; for VIDYA, it is the CMO oscillation period; for AMA, it is the slow EMA period. In other algorithms, these parameters do not affect smoothing. For AMA the fast EMA period is a fixed value, equal to 2 by default. For AMA, the ratio of raised powers is also equal to 2.

The color of the histogram and its signal lines change according to active market trends.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1 RMCD histogram

Attachment download

📎 colorrmacd.mq5 (11.53 KB)

📎trvi.mq5 (7.75 KB)

📎 smoothalgorithms.mqh (134.03 KB)

Source: MQL5 #1206