Hey there,
I am always looking to enhance my tools for trading and today I found this in Library.
This is the Ultimate MACD. This look is the four hour view.
This was created by Chris Moody a trading Pro on this platform.
I like changing histograms, they are excellent indicators of a change.
The signal line is cool too because it also signals entry and exits .
Its pretty simple to use!
A Green entry with a Green histogram indicates your trade is long until the signal line turns red.
Red on Red indicates a short is in play until you get a green signal.
Cant get any easier! And it works on any timeframe!
Take a look at how well it correlates to the movements.
What a great tool!
I almost forgot to mention, I used the edit settings to hide the MACD in black. This allows me to unclutter the tool and focus on the signal.
HAVE FUN!!!!