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thinkorswim HLC MACD 01/17/08

MACD based on the HLC/3 datapoint better at showing divergences.

  1. Eric Purdy
    Here’s a MACD with a few subtle changes:

    1) The price data used is (H+L+C)/3 rather than the close. I find this makes a subtle improvement in the display of divergences.

    2) You can plot a second long time frame MACD line on the same chart (hidden by default).

    3) The histogram bars are colored based on the relationship to the previous bar vice the standard above/below zero line coloring.

    4) The color of the main MACD line is white when the slope is positive and purple when negative. macdhlc.png