MACD_Colored_v102
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This script is a specialized technical analysis tool designed for the MetaTrader platform. It enhances the standard Moving Averages Convergence Divergence (MACD) indicator by adding visual cues, dynamic color coding, and automated movement tracking to help traders better interpret market trends.
Core Functionality
1. Multi-Colored Visual Representation Unlike a standard MACD that often appears as a single line or static histogram, this tool separates the data into distinct categories using different colors:
- Upward Momentum (Lime): Highlights when the current value is increasing compared to the previous period.
- Downward Momentum (Red): Highlights when the current value is decreasing.
- Neutral/Equal Movement (Yellow): Identifies periods where price movement is stagnant or within a predefined minimum difference threshold.
- Signal Line (Silver): Provides a smooth baseline to help identify potential trend shifts.
2. Dynamic Trend Tracking (Pips Calculation) The script includes an automated logic loop that calculates the "distance" or strength of a move in real-time. It compares the current MACD value against the previous period's value:
- If the momentum is dropping, the script tracks the downward movement.
- If the momentum is rising, it tracks the upward movement.
- This calculation translates the abstract MACD data into a tangible "Pips" count, providing a clearer sense of how much the trend has shifted in a specific direction.
3. Real-Time On-Screen Display To make the data instantly accessible without needing to study complex charts constantly, the script generates a dynamic text label on your screen. This label displays the current "Pips" count calculated by the logic above. The text updates automatically as new price data arrives, allowing you to see the magnitude of the current move at a glance.
User Experience
For a non-technical user, this tool transforms raw market noise into a visual summary. Instead of simply seeing a line go up or down, you get a color-coded "heat map" of momentum and a live numerical readout that tells you exactly how much progress the current trend is making in real-time.
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MACD_Colored_v102
//+------------------------------------------------------------------+
//| Custom MACD.mq4 |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2007, Herb Spirit, Inc."
#property link "http://www.herbspirit.com/mql"
#define INDICATOR_NAME "MACD_Colored"
#define INDICATOR_VERSION "v102"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 Lime
#property indicator_color2 Red
#property indicator_color3 Yellow
#property indicator_color4 Silver
#property indicator_style4 STYLE_DOT
#property indicator_level1 45
#property indicator_level2 30
#property indicator_level3 15
#property indicator_level4 -15
#property indicator_level5 -30
#property indicator_level6 -45
#property indicator_levelcolor Gray
#property indicator_levelstyle STYLE_DOT
//---- indicator parameters
extern int FastEMA=5;
extern int SlowEMA=13;
extern int SignalSMA=1;
extern double MinDiff=0;
extern int FontSize=8;
extern color FontColor=Silver;
//---- indicator buffers
double MacdBuffer[];
double MacdBufferUp[];
double MacdBufferDn[];
double MacdBufferEq[];
double SignalBuffer[];
//bool firsttime=true;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
SetIndexStyle(0,DRAW_HISTOGRAM);
SetIndexStyle(1,DRAW_HISTOGRAM);
SetIndexStyle(2,DRAW_HISTOGRAM);
SetIndexStyle(3,DRAW_LINE);
SetLevelValue(0,45);
SetLevelValue(1,30);
SetLevelValue(2,15);
SetLevelValue(3,-15);
SetLevelValue(4,-30);
SetLevelValue(5,-45);
SetIndexDrawBegin(1,SignalSMA);
IndicatorDigits(1);
//---- indicator buffers mapping
SetIndexBuffer(0,MacdBufferUp);
SetIndexBuffer(1,MacdBufferDn);
SetIndexBuffer(2,MacdBufferEq);
SetIndexBuffer(3,SignalBuffer);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName(WindowExpertName()+" ("+FastEMA+","+SlowEMA+","+SignalSMA+")");
SetIndexLabel(0,"MACD UP");
SetIndexLabel(1,"MACD DN");
SetIndexLabel(2,"MACD EQ");
SetIndexLabel(3,"Signal");
//---- initialization done
return(0);
}
int deinit()
{
string objname=WindowExpertName()+","+Symbol()+","+Period();
ObjectDelete(objname);
}
//+------------------------------------------------------------------+
//| Moving Averages Convergence/Divergence |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars=IndicatorCounted();
//---- last counted bar will be recounted
limit=MathMin(Bars-SlowEMA,Bars-counted_bars+1);
// if(!firsttime)
// Print("LIMIT=",limit);
ArrayResize(MacdBuffer,limit);
ArraySetAsSeries(MacdBuffer,true);
//---- macd counted in the 1-st buffer
for(int i=0;i<limit;i++) {
MacdBuffer[i]=(iMA(NULL,0,FastEMA,0,MODE_EMA,PRICE_CLOSE,i)-
iMA(NULL,0,SlowEMA,0,MODE_EMA,PRICE_CLOSE,i))/Point;
}
for(i=limit-2;i>=0;i--)
{
if(MathAbs(MacdBuffer[i]-MacdBuffer[i+1])<MinDiff)
{
MacdBufferEq[i]=MacdBuffer[i];
MacdBufferUp[i]=0;
MacdBufferDn[i]=0;
}
else
{
if(MacdBuffer[i]>MacdBuffer[i+1])
{
MacdBufferUp[i]=MacdBuffer[i];
MacdBufferDn[i]=0;
MacdBufferEq[i]=0;
}
else
{
MacdBufferDn[i]=MacdBuffer[i];
MacdBufferUp[i]=0;
MacdBufferEq[i]=0;
}
}
}
//---- signal line counted in the 2-nd buffer
for(i=0; i<limit; i++)
SignalBuffer[i]=iMAOnArray(MacdBuffer,Bars,SignalSMA,0,MODE_SMA,i);
//---- change color calculation
double priMACD=(iMA(NULL,0,FastEMA,0,MODE_EMA,PRICE_CLOSE,1)-
iMA(NULL,0,SlowEMA,0,MODE_EMA,PRICE_CLOSE,1))/Point;
double close[];
ArrayResize(close,Bars);
ArraySetAsSeries(close,true);
ArrayCopy(close,Close,0,0,ArraySize(close));
double curMACD=(iMAOnArray(close,0,FastEMA,0,MODE_EMA,0)-
iMAOnArray(close,0,SlowEMA,0,MODE_EMA,0))/Point;
// for(int x=0;x<ArraySize(close);x++)
// Print(x,"=",close[x]);
int pips;
// Print("PRI=",priMACD," BUF=",MacdBuffer[1]);
// Print("CUR=",curMACD," BUF=",MacdBuffer[0]);
if(curMACD<priMACD)
{
while(curMACD<priMACD)
{
pips++;
close[0]+=Point;
curMACD=(iMAOnArray(close,0,FastEMA,0,MODE_EMA,0)-
iMAOnArray(close,0,SlowEMA,0,MODE_EMA,0))/Point;
// Print("PIPS=",pips," CLOSE=",close[0]," CUR=",curMACD);
}
}
else
{
while(curMACD>priMACD)
{
pips--;
close[0]-=Point;
curMACD=(iMAOnArray(close,0,FastEMA,0,MODE_EMA,0)-
iMAOnArray(close,0,SlowEMA,0,MODE_EMA,0))/Point;
// Print("PIPS=",pips," CLOSE=",close[0]," CUR=",curMACD);
}
}
// IndicatorShortName(WindowExpertName()+" (Pips "+pips+")");
// Print(WindowExpertName()," ",
// WindowFind(WindowExpertName()+" ("+FastEMA+","+SlowEMA+","+SignalSMA+")"));
string objname=WindowExpertName()+","+Symbol()+","+Period();
if(ObjectFind(objname)<0)
ObjectCreate(objname,OBJ_TEXT,
WindowFind(WindowExpertName()+" ("+FastEMA+","+SlowEMA+","+SignalSMA+")"),
Time[0]+Period()*60,MacdBuffer[0]/2);
else
ObjectMove(objname,0,Time[0]+Period()*60,MacdBuffer[0]/2);
if(pips!=0)
ObjectSetText(objname,DoubleToStr(pips,0),FontSize,"Courier",FontColor);
else
ObjectSetText(objname," ",FontSize,"Courier",FontColor);
//---- done
return(0);
}
//+------------------------------------------------------------------+
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