VolumeWeightedMACD

Description

The Volume Weighted MACD is a modified version of MACD study. It calculates volume-averaged Close price on two periods: longer and shorter ones. First average is called "slow" and the second is called "fast"; Volume Weighted MACD is equal to the difference between these two values. The main plot is accompanied with its EMA and a histogram showing the difference between these two values (EMA is subtracted from the Volume weighted MACD).

It is considered an overbought position when histogram values switch from negative to positive, while switching from positive to negative indicates an oversold position.

 

Input Parameters

Parameter Description
fast length The number of bars used to calculate the fast average.
slow length The number of bars used to calculate the slow average.
macd length The number of bars used to calculate the EMA of Volume Weighted MACD.

Plots

Plot Description
Value The Volume Weighted MACD plot.
Avg The EMA of Volume Weighted MACD.
Diff The difference between MACD and its moving average.
ZeroLine The zero level.

Example*

*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.

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