iMACD±ATR - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The indicator is simple. When MACD is in the positive zone, its value moves downward by the amount of ATR, and when MACD is in the negative zone, its value moves upward.
Therefore, the resulting curve will enter the same area as the MACD only when the MACD value is large enough to cover the value of the trading range. Additionally, this method allows the user to track the decline of the ATR at the end of the movement - the resulting curve enters the area where the MACD is at that time.
Blue line - the result of MACD changing through ATR. The highlighted histogram bars indicate where the MACD and shift results have the same sign (±).
An additional condition for their appearance is the slope of the MACD relative to the direction of the price movement.
The indicator was first implemented in MQL4 and published in the code base: mql4.com August 18, 2011 (in Russian).
Attachment download
📎 macd_atr.mq5 (7.89 KB)
Source: MQL5 #1019
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