Ham MACDNorm This indicator takes the traditional MACD information, and converts it to 'normalized' relative values that can be watched for changes and curve crossings. Since the MACD values are meaningless by themselves, and only make sense when compared to other MACD values for the same ticker, and in the same timeframe, this indicator performs a calculation to normalize the MACD value (the main line - not the signal line), and the Difference value (difference between the MACD value and the signal line, normally displayed as a histogram). By looking back over the last 100 bars (you can change the BarsForNormalization value), this indicator adjusts the values to be between 100 and -100. The 100% level is determined by finding the largest value for the last 100 bars. This indicator displays four values. The MACD value (the line that changes most quickly) is displayed, as well as the MACD value of two bars ago. By looking at these two values, you can determine whether the MACD line is in a short-term trend up or down. Also, with the color coding (green for positive, red for negative values), you get a visual cue that the MACD value has crossed the zero line. The second pair of numbers that are displayed by this indicator are the Difference (between the MACD value and the 'signal line' which is a moving average of the MACD value). The two values displayed are the Difference as calculated for the current bar, and the Difference as calculated two bars ago. Again, you are able to get visual cues from the color coding to indicate when the Difference crosses the zero line (which indicates that the histogram is changing from down to up, or up to down).
This Indicator does not currently support Alerts, but that may be a feature of a future release.
There are four pieces of information displayed: the MACD value two bars ago, the current MACD value, the MACD Difference (usually a histogram) value of two bars ago, and the current MACD Difference value. As the examples below show, you can easily identify MACD crossovers, as well as MACD Histogram crosses over the zero (which means that the MACD line crosses the "signal" average line) by noticing that the value two bars ago is a different color than the current bar. The following RadarScreen shows some examples. The charts below give the details.
HamRadar01 is not guaranteed for any particular purpose. Trading involves a high level of risk - and neither Prototech, Inc., nor Nelson Crowle (HamFon) will be liable for any losses that you incur. HamRadar01 is licensed for individual usage - you may use it on any number of machines, but only with the TradeStation Customer Number that you provide when you order. You may not reverse engineer HamRadar01, or share it with other users.
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