OPEN-SOURCE SCRIPT
Zero Lag MACD Enhanced - Version 1.0
*Zero Lag MACD indicator - Enhanced version 1.0*
Based on ZeroLag EMA - see Technical Analysis of Stocks and Commodities, April 2000
Original version by user Glaz. Thanks ! (see at the end of this description).
Tweaked by Albert Callisto
Displayed components:
You can choose between SMA or EMA for the moving averages. They give slightly different results. Glaz had used SMA instead of EMA. Most "zero MACD" scripts are based upon EMA.
Usage is similar to the classic MACD and it can be integrated in an existing strategy, you will notice the crossing occurs earlier.
This is the original version by Glaz:
Based on ZeroLag EMA - see Technical Analysis of Stocks and Commodities, April 2000
Original version by user Glaz. Thanks ! (see at the end of this description).
Tweaked by Albert Callisto
Displayed components:
- Fast and slow "zero lag" moving averages
- Histogram showing delta between the two moving averages
You can choose between SMA or EMA for the moving averages. They give slightly different results. Glaz had used SMA instead of EMA. Most "zero MACD" scripts are based upon EMA.
Usage is similar to the classic MACD and it can be integrated in an existing strategy, you will notice the crossing occurs earlier.
This is the original version by Glaz:
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.