BB MACD (Bollinger Bands on MACD) for ProRealTime

Bollinger Bands on MACD, with different settings you’ll find many ways to use it (mean reverting or with breakout the upper and lower bands).

The MACD line is plotted with blue and red dots as per the original indicator (this one is a conversion from a MT4 one requested by one of our member).

//PRC_BB MACD CCT | indicator
//16.10.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from MT4 version

// --- settings
//FastLen = 38
//SlowLen = 120
//Length = 20
//StDv = 1.1
// --- end of settings

bbMacd = average[FastLen,1]-average[SlowLen,1]

avg = average[Length,1](bbMacd)
sDev = std[Length](bbMacd)

UpperBand = avg+(StDv*sDev)
LowerBand = avg-(StDv*sDev)

if bbMacd>bbMacd[1] then
 r=0
 b=205
else
 r=255
 b=0
endif

drawtext("●",barindex,bbMacd,Dialog,Bold,10) coloured(r,0,b)

return UpperBand coloured(0,0,205) style(line), LowerBand coloured(255,0,0) style (line)

Download

Filename: PRC_BB-MACD-CCT.itf

Downloads: 967

Comments

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Lydia1948

6 years ago

Thanks

Lydia1948

6 years ago

Hi I really like this indicator - is it easy to change the colour of the blue dots to say green as the blue doesn't stand out too well against black chart background?

Nicolas

6 years ago

Lines 23 and 24 are the Red and Blue value between 0 to 255, you can change the color of the dots there.

Wiezman74

9 years ago

any chance you can email me this indicator for MT4,, can't get the code to work.. limited knowledge, been looking for an indicator like this!!

Nicolas

9 years ago

This website is dedicated to prorealtime programming. But you can ask for custom programming, as a private job, through the programming services: https://www.prorealcode.com/trading-programming-services/

thierryp

9 years ago

Bonjour Nicolas, merci pour le travail que vous effectuez. Je ne suis vraiment pas bon dans le codage mais grace a votre travail le trading devient plus facile. Avec une bonne analyse derrière.

Stanko

9 years ago

Hi Nicolas This is my first "contact" on ProRealCode... Thank you for proposing this indicator (among any others): it is very interesting and useful. Are there any trading systems that use this indicator?

Nicolas

9 years ago

I don't think so.. You can try to make one with the assisted creation tool in ProOrder window.

Stanko

9 years ago

Ok. Thanks

papero76

9 years ago

great idea