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Is there a way via EFS to help me automate my current MACD process...
For reference:
I use the MACD in the following manner. On a daily chart time frame, after a bullish or bearish cross I watch the daily MACD and the signal line as they spread apart. After the initial cross, I begin to note the smoothness of the two lines and I also pay special attention to the distance between the two lines. I guess my type of trading is termed "swing" or "position" trading so my trades last for several days to as much as two weeks.
When I have reached the profit target that I first calculate manually, I note specifically the spread of the MACD and signal line to let me know if there is any more gas in tank, if the spread of the lines is at the widest point, and the lines are smooth not jagged I usually find that the trade will continue in the same direction. If the trade last long enough, and the movement begins to show on the weekly chart I take note of that as well. The same then begins on the weekly chart if the trade runs that long.
I would like to begin to automate this step as I have my other trading indicators in a way that turns the above into less of an "art" and more of a mathematical process. I am wondering how to;
First:
- After a bullish cross of the MACD crossing the signal line, can the MACD line color be changed to lime green (shows better on my black background than standard green) and by this I would like the color change to happen immediately after the change.
- After a bearish cross of the MACD crossing the signal line, can the MACD line color be changed to red
- Another option that would be ok,,, A trend line (or band) could be placed and colored in the same manner as stated above within the MACD study area. It would need to auto extend as the MACD moves.
Second:
- Place the histogram bar data in the Data window so I can compare todays numbers to yesterdays, I could then see a future way to alert based on that data of a cross over.
I will stop here and will be greatly appreciative to any response. Thanks in advance !
Is there a way via EFS to help me automate my current MACD process...
For reference:
I use the MACD in the following manner. On a daily chart time frame, after a bullish or bearish cross I watch the daily MACD and the signal line as they spread apart. After the initial cross, I begin to note the smoothness of the two lines and I also pay special attention to the distance between the two lines. I guess my type of trading is termed "swing" or "position" trading so my trades last for several days to as much as two weeks.
When I have reached the profit target that I first calculate manually, I note specifically the spread of the MACD and signal line to let me know if there is any more gas in tank, if the spread of the lines is at the widest point, and the lines are smooth not jagged I usually find that the trade will continue in the same direction. If the trade last long enough, and the movement begins to show on the weekly chart I take note of that as well. The same then begins on the weekly chart if the trade runs that long.
I would like to begin to automate this step as I have my other trading indicators in a way that turns the above into less of an "art" and more of a mathematical process. I am wondering how to;
First:
- After a bullish cross of the MACD crossing the signal line, can the MACD line color be changed to lime green (shows better on my black background than standard green) and by this I would like the color change to happen immediately after the change.
- After a bearish cross of the MACD crossing the signal line, can the MACD line color be changed to red
- Another option that would be ok,,, A trend line (or band) could be placed and colored in the same manner as stated above within the MACD study area. It would need to auto extend as the MACD moves.
Second:
- Place the histogram bar data in the Data window so I can compare todays numbers to yesterdays, I could then see a future way to alert based on that data of a cross over.
I will stop here and will be greatly appreciative to any response. Thanks in advance !