This is one of Mrtools's excellent Adaptive indicators from our archives - the Cband PA MACD Dots which comes with (newer drop down box) Multi-timeframe + Interpolation, Choosable Symbols, Arrows, Alerts, Dots or Lines Display, Arrows on Breakout, Arrows on Retracement plus much more.

This is a strong, non-repainting indicator which can be used for scalping breakouts on the lower timeframes or as a complete replacement over the standard MACD indicator.
The additional Dots display is ideal for gauging the strength of moves. Like all MACD "Dots" indicators, the dots can be interpreted as:

• The further the Dots are "spread" apart, the more strength in the movement
• The closer the Dots are, the less volatility in the movement