Impulse MACD is a modified MACD , formed by filtering out the values in a MA range (region between MAs of high and low), thereby reducing whipsaw typical in a sideways market. This is usually plotted as histogram. This also plots the traditional histogram ( MACD - Signal), to help in finding entries/exits.
Use this like a traditional MACD (Zero line crossing or Signal crossing).
Colors legend:
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
Use this like a traditional MACD (Zero line crossing or Signal crossing).
Colors legend:
- Impulse MACD: Possible colors => Lime / Green / Orange / Red, based on the ImpulseMACD position with respect to MidLine and Signal.
- Impulse MACD Signal: Maroon line.
- Blue histogram: (ImpulseMACD - Signal).
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
// // @author LazyBear // // List of my public indicators: http://bit.ly/1LQaPK8 // List of my app-store indicators: http://blog.tradingview.com/?p=970 // // study("Impulse MACD [LazyBear]", shorttitle="IMACD_LB", overlay=false) lengthMA = input(34) lengthSignal = input(9) calc_smma(src, len) => smma=na(smma[1]) ? sma(src, len) : (smma[1] * (len - 1) + src) / len smma calc_zlema(src, length) => ema1=ema(src, length) ema2=ema(ema1, length) d=ema1-ema2 ema1+d src=hlc3 hi=calc_smma(high, lengthMA) lo=calc_smma(low, lengthMA) mi=calc_zlema(src, lengthMA) md=(mi>hi)? (mi-hi) : (mi<lo) ? (mi - lo) : 0 sb=sma(md, lengthSignal) sh=md-sb mdc=src>mi?src>hi?lime:green:src<lo?red:orange plot(0, color=gray, linewidth=1, title="MidLine") plot(md, color=mdc, linewidth=2, title="ImpulseMACD", style=histogram) plot(sh, color=blue, linewidth=2, title="ImpulseHisto", style=histogram) plot(sb, color=maroon, linewidth=2, title="ImpulseMACDCDSignal") ebc=input(false, title="Enable bar colors") barcolor(ebc?mdc:na)