MACD Ichimoku - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources

MACD is one of the stability indicators around which many strategies are built.

To try and apply some market sentiment indicators to it, I decided to apply the Ichimoku concept to its value.

Rather than re-writing how to use Ichimoku, I suggest you check out a very good source of information

In the Ichimoku Wiki you can then read the indicator with full understanding.

In the attached chart, I record the basic view of the movement just to give you an idea of ​​how to read the information provided.

The indicator itself uses the same autoshading code I used to make the shadow float, you need to allow the dll to happen and wait for a new tick or

Right click and edit without changing anything, then close the pinned chart again to let the cloud float.

Because we are dealing with positive and negative values ​​in MACD, I am limited in the number of buffers I can use in order to color each value

possibility. This means that while you will always see the SenkouA and B lines (the boundaries of the clouds), you will occasionally see a small amount of shadowing

When the zero line crossing occurs. Nothing to worry about, but worth mentioning.

This is a new way of confirming MACD for me and I am very pleased with the overall information provided. Ichimoku is a bit of a learning curve, but well worth it

Pursuit and I believe this metric will be similar. It's a little daunting at first, but worth the practice.

Initially, I just ran the M5 and M15 strategy testers using the No Action EA and observed and recorded the behavior of indi. After a while, you'll be amazed at its ability to tell a story.

I have almost finished the Stochastic and CCI Ichimokus and published ADX_Ichimoku on my website a while ago.

Attachment download

📎 Brooky_MACD_Ichimoku_V2.mq4 (8.44 KB)

Source: MQL5 #10070