Divergence Bias Fractional MACD
The Divergence Bias Fractional MACD, powered by Amibroker data, is a modification of the traditional MACD indicator. AFLs in Amibroker may be used to create this indicator, offering insights into divergence biases in the market’s momentum and trend shifts.
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_SECTION_BEGIN("Divergence Bias, Fractional MACD");
r1 = Param("Fast EMA",12,1,100,1);
r2 = Param("Slow EMA",26,1,100,1);
r3 = Param("Signal Periods", 9, 1, 100, 1);
P = ParamField("Price field", -1);
// S, L- bar fractional MACD
function fracMACD( r1, r2 )
{
return EMA( P, r1 ) / EMA( P, r2 );
}
x = fracMACD(r1, r2);
y = EMA(fracMACD(r1, r2), r3);
Color = IIf((x > Ref(x,-1) AND x < 1), colorYellow, IIf((x > Ref(x,-1) AND x > 1), colorLime, IIf((x < Ref(x,-1) AND x > 1), colorOrange, IIf((x < Ref(x,-1) AND x < 1), colorRed,0))));
Plot(x, "MACD("+r1+","+r2+")", Color, styleThick);
Plot(y, "Signal("+r3+")", colorPink, styleDashed);
PlotGrid(1, colorLightGrey);
_SECTION_END();