Good Day
I have come across this indicator which promises to be a hybrid between the MACD and Bollinger Bands. Unfortunately, it is in Metatrader format which I don’t have access to. If someone can maybe extract the code for me and paste it here I will be willing to translate it for the benefit of the PRT library.
The code can be found here:
https://indicatorvault.com/macd-bb/macd-bb-fuse.zip
The code is compiled and the source is not readable. If you could find the .mq4 format I would be able to translate the code for sure.
Also, for future mt4 code translate request, please use the post format explained in that post, thank you: https://www.prorealcode.com/topic/free-conversion-mt4-indicators-mql4/
Looking at the picture, I think this indicator is made of:
- the MACD (the red/blue bullets)
- average of the MACD
- Bollinger bands around the SMA of the MACD but with +/- factorized STD of MACD
Nicolas, I think your interpretation is correct. I have requested the .mq4 format but not so sure they will provide it.
If not I am sure we can build it ourselves.
My apologies for abandoning this thread but I found a similar indicator was already in the PRT library:
https://www.prorealcode.com/prorealtime-indicators/bb-macd-bollinger-bands-macd/