Corrected MACD Indicator for MT5

 

"Step" or "corrected" macd (using the same method for correction that is used in averages).

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Corrected values tend to be good filters, but they should not be mixed with the filters we are using. The values for the "corrected" method are different from "filtered" values.

For additional help, there is a choice of possible ways how the "trend" is found out:

• on slope change
• on zero line cross
• or on original macd value cross (in which case macd is used as a sort of a signal line)

Also you can control if the "correction" is needed at all (by adjusting the "correction" period) when you can get the original MACD value displayed.

With some experimenting a nice filter can be achieved and this way a probable new life to a good old macd can be added.