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Title: Message
Chris,
Direct from
MetaStock Help:
Most analysts (including Equis International's) say
that the MACD indicator is "the difference between 12-day and 26-day exponential
moving averages." However, the indicator is really the difference between
0.15 and 0.075 exponential moving averages (whereas, when expressed in decimal
form, the 12- and 26-day exponential moving averages are actually 0.153846 and
0.076923 exponential moving averages). See Moving Average Calculation
Methods for more information on exponential moving average calculation
methods.
Due to these minor differences in the exponential
values, the following formula is slightly different than the predefined MACD
indicator. Remember that you can plot the true MACD indicator using the
macd() function (see MACD).
mov(close, 12, E) - mov(close, 26, E)
The
MACD's trigger (which is a 9-day exponential moving average of the MACD
indicator) can be calculated as shown below:
mov(macd(), 9,
E)
To plot other time
frames, simply substitute your desired values for the 12, 26 and 9 in the
formulae above.
If you are looking
for the indicator commonly called the "MACD Histogram" then substitute your
numbers in:
(mov(close, 12, E) - mov(close, 26, E)) - mov((mov(close, 12, E) - mov(close,
26, E)), 9, E)
which is perhaps
more elegantly written as:
MCD:= mov(close, 12, E) - mov(close, 26,
E);
MCDH:= MCD - mov(MCD, 9,
E);
MCDH
Trust this
helps.
Mike
Dear All - Metastock only seems to
allow a default MACD (I guess
13,26,9). Does anyone know of a plug-in that
allows one to change the
parameters or a formula that allows same that can
be pasted into
indicators? Many thanks in advance, Chris
Roberts
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