The MACD is one of the stable indicators around which many strategies have been developed.
In an attempt to apply some market sentiment indications to it I decided to apply the Ichimoku concepts to it’s values.
Instead of re writing how to use Ichimoku I suggest you have a look at an extremely good source of information
at Ichimoku Wiki and you can then read this indicator with a full understanding.
On the attached chart I have noted a basic view on a movement just to give you an idea of how one may read the information presented.
The indicator itself uses the same auto shading code that I use to make shades float and you will need to allow dll’s for that to occur and wait for a new tick or
right click and edit without changing anything and close again on a stationary chart for clouds to float.
Because we are dealing with positive and negative values in MACD, I am constrained with the amount of buffers that I can use to allow shading of every
possibility. This means that while you will always see the SenkouA and B lines, (Boundaries of the Kumo Clouds), occasionally a small amount of shading is clear
when zero line crossovers occur. Nothing to worry about but worth mentioning.
For me this is quite a new way of confirming MACD and I am very happy with the overall information presented. Ichimoku is a bit of a learning curve but a very worthwhile
pursuit and I believe this indicator would be similar. A bit daunting at first but worth the exercise.
Initially I just ran the M5 and M15 strategy tester with a do nothing EA and watched and noted how the indi behaved. After a while you will be surprised how well it tells the story.
I have nearly completed the Stochastic and CCI Ichimokus and released the ADX_Ichimoku on my site a while ago.
MT4 Indicator Download – Instructions
MACD Ichimoku is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
MACD Ichimoku provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install MACD Ichimoku.mq4?
- Download MACD Ichimoku.mq4
- Copy MACD Ichimoku.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on MACD Ichimoku.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator MACD Ichimoku.mq4 is available on your Chart
How to remove MACD Ichimoku.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: