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Hi All,
Below is the code for the MACD Histogram and Momentum indicators as
described by Thomas Aspray in Stocks & Commodities.
=============
MACD Momentum
=============
MetaStock -> Tools -> Indicator Builder -> New
Copy and paste formula below.
----8<---------------------------
TmpA:= Mov(CLOSE,10,E)-Mov(CLOSE,20,E);
MACDH:= TmpA - Mov(TmpA,10,E);
TmpB:= MACDH - Ref(MACDH,-10);
MACDMO:= Mov(TmpB,3,S);
MACDH;
MACDMO;
----8<---------------------------
A sample system based upon the above indicators is included below.
Note that different periods are used in this system.
====================
MACD Momentum System
====================
Enter Long:
TmpA:=Mov(CLOSE,8,E)-Mov(CLOSE,14,E);
MACDH:= TmpA-Mov(TmpA,8,E);
TmpB:=MACDH - Ref(MACDH,-8);
MACDMO:=Mov(TmpB,3,S);
(MACDH<0) AND (MACDMO<0)
Close Long:
TmpA:=Mov(CLOSE,8,E)-Mov(CLOSE,14,E);
MACDH:= TmpA-Mov(TmpA,8,E);
TmpB:=MACDH - Ref(MACDH,-8);
MACDMO:=Mov(TmpB,3,S);
(MACDMO>0)
An optimizable version follows.
==========================
MACD Momentum System w/Opt
==========================
Enter Long:
TmpA:=Mov(CLOSE,opt1,E)-Mov(CLOSE,opt2,E);
MACDH:= TmpA-Mov(TmpA,opt1,E);
TmpB:=MACDH - Ref(MACDH,-opt1);
MACDMO:=Mov(TmpB,3,S);
(MACDH<0) AND (MACDMO<0)
Close Long:
TmpA:=Mov(CLOSE,opt1,E)-Mov(CLOSE,opt2,E);
MACDH:= TmpA-Mov(TmpA,opt1,E);
TmpB:=MACDH - Ref(MACDH,-opt1);
MACDMO:=Mov(TmpB,3,S);
(MACDMO>0)
opt1 7 to 10 step 1
opt2 12 to 20 step 1
The addition of a confirmatory indicator such as on-balance volume
could further enhance this system.
Furthermore, MACDMO's signal can be modified by eliminating the 3-day
SMA, thus
MACDMO:= MACDH - Ref(MACDH,-opt1);
instead of the original
TmpB:= MACDH - Ref(MACDH,-opt1);
MACDMO:=Mov(TmpB,3,S);
As with any trading system, careful backtesting should be performed
before actual trading. Use at your own risk!
Additional information on MACD momentum can be found in the following
references:
1) Stocks & Commodities v6:8 (294-297): MACD momentum Part 1 by
Thomas Aspray
2) Stocks & Commodities v6:9 (346-349): MACD momentum Part 2 by
Thomas Aspray
3) Stocks & Commodities v12:2 (81-85): The Macd Momentum Oscillator
by Barbara Star
4) Stocks & Commodities v16:12 (588-593): The MACD Profit Alert by
Barbara Star
Cheers,
E.
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