macd_forest
Function Name: macd_forest
Tags: None
Category: Trend
The MACD Forest displays the difference between MACD and the trigger line. The Moving Average Convergence Divergence indicator calculates moving averages that can monitor and signal trends. It is both a trend-following indicator as well as an oscillator.
The Moving Average Convergence Divergence indicator calculates two exponential moving averages of the lengths specified by the inputs mov1 and mov2. The difference between these two averages is then plotted as the MACD. This value is also averaged for the number of bars specified by the input Trigger and then plotted as the TRIGG. Finally, the difference between the MACD and the TRIGG is calculated and plotted as the MACD Forest.
As a trend-following indicator, the MACD may be interpreted similarly to other moving averages. When the MACD crosses above the MACD Average, an uptrend may be beginning, indicating a buy signal. Conversely, when the MACD crosses below the TRIGG, a downtrend may be beginning. As an oscillator, the MACD can signal overbought and oversold conditions.
Link: http://www.investopedia.com/terms/m/macd.asp
mov1 |
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Default Value: 12 | Minimum: 2 | Maximum: 9999 |
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Type: Numeric |
mov2 |
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Default Value: 26 | Minimum: 2 | Maximum: 9999 |
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Type: Numeric |
trigger |
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Default Value: 9 | Minimum: 2 | Maximum: 200 |
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Type: Numeric |
ShowLine |
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Default Value: 0 |
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Type: Boolean |
ShowHistogram |
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Default Value: -1 |
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Type: Boolean |