Customized MACD For Long Term Trend - aflcode.com | Latest collection of Amibroker afl 2023

How to use Customized MACD For Long Term Trend?

Customized MACD is made up of signal line and MACD line. This the MACD with some tuned settings. Just focus on crossover of MACD line and signal line. When bullish crossover happens, make sure than histogram lines are also pointing towards upward direction and exactly opposite for bearish crossover. Do not get out of the trade until opposite crossover happens. This afl is recommended for swing traders with daily or weekly time frame but can also be used by intraday traders for 15 minutes time frame if stock is trending. To find out the trending stocks, just search for high value stocks.

Customized MACD For Long Term Trend

//www.aflcode.com
period1=Param("period1",9,10,200,10);
period2=Param("period2",21,10,200,10);
firstEMA=EMA(C,period1);
secondEMA=EMA(C,period2);
diffEMA=firstEMA-SecondEMA;
Plot(C,"Close",1,1);
Plot(firstEMA,"firstEMA",colorYellow,1);
Plot(secondEMA,"secondEMA",colorBlue,1);
Plot(diffEMA,"",colorGreen,
styleHistogram|styleOwnScale);
GraphXSpace=3;
Title=EncodeColor(colorGreen)+"Difference of
"+EncodeColor(colorYellow)+"EMA(C,"+NumToStr(period1,1)+")="+NumToStr(firstEMA,1)+EncodeColor(colorGreen)+" minus
"+EncodeColor(colorBlue)+"EMA(C,"+NumToStr(period2,1)+")="+NumToStr(SecondEMA,1);