MACD, short for moving average convergence/divergence, is a trading indicator used in technical analysis of stock prices, created by Gerald Appel in the late 1970s.
It is designed to reveal changes in the strength, direction, momentum, and duration of a trend in a stock's price.

Attached is a template to trade the Zerolag MACD.

There are 3 bbsqueeze indicators. One for EMA12. One for EMA26. And one for EMA9.
rex X means that the Bollinger band is squeezed inside the Keltner channel. Do not trade.
green dots means it's OK to trade.

As you can see in the following example, EURUSD is consolidating in the Asian session.
The Bollinger bands of EMA12, EMA26, EMA9 are squeezed.

Dear MrTools,
Please help me add a MTF option to this MACD WIS indicator. Thanks very much in advance.

gordianukpong wrote: Mon Jan 06, 2020 12:15 pm Dear MrTools,
Please help me add a MTF option to this MACD WIS indicator. Thanks very much in advance.

Added mtf.

PS: For the settings template used on the Daily Downloads screenshot, see here: Elder Impulse System Settings Template for MT4.

Here's a new template that display Zerolag EMA (12,26,9) on the chart instead of regular EMA (12,6,9).

According to the source code, the display arrows are based on:

switch(AlertsArrowsOn)
{
case 0 : CrossDescription = "Zero lag MACD - MACD crossed signal line ";
case 1 : CrossDescription = "Zero lag MACD - MACD crossed zero line ";
case 2 : CrossDescription = "Zero lag MACD - Signal line crossed zero line ";
}

Look like GPYJPY got two Bollinger Squeeze breakout in the London session today.
One of them goes from Fibo 23.6 to Fibo 61.8. That's about 68 pips???
Fibo 61.8 to Fibo 76.4 is a long squeeze; for hours.
And then another break out to the upside near Fibo 76.4
And then ...

Banzai wrote: Tue Jan 07, 2020 4:22 am Here's a new template that display Zerolag EMA (12,26,9) on the chart instead of regular EMA (12,6,9).

Your charts are always very impressive and really easy on the eyes. Very artistic and I really dig seeing your creations and templates, they're super light weight on the platform too

Banzai wrote: Mon Jan 06, 2020 4:49 am MACD, short for moving average convergence/divergence, is a trading indicator used in technical analysis of stock prices, created by Gerald Appel in the late 1970s.
It is designed to reveal changes in the strength, direction, momentum, and duration of a trend in a stock's price.

Attached is a template to trade the Zerolag MACD.

There are 3 bbsqueeze indicators. One for EMA12. One for EMA26. And one for EMA9.
rex X means that the Bollinger band is squeezed inside the Keltner channel. Do not trade.
green dots means it's OK to trade.

As you can see in the following example, EURUSD is consolidating in the Asian session.
The Bollinger bands of EMA12, EMA26, EMA9 are squeezed.

Man, what an excellent system B! I wish I had something as simple and effective as this when I was first starting out! Thank you for this piece of art, we've featured this in our Daily Downloads for today!

mrtools wrote: Mon Jan 06, 2020 1:12 pm

Added mtf.

Thanks very much. You have no idea how happy I am with you right now.

mrtools wrote: Mon Jan 06, 2020 1:12 pm

Added mtf.

Thanks for sharing and updating this old gem Mrtools

For those wondering what the "Impulse System" is, it's a simple trading system by Alexander Elder himself which consists of the MACD and the 13 period EMA.
Many traders including LazyBear from Tradingview also incorporate a 65 period EMA to show the prevailing trend.

The rules of the system are:

• Trade short (Sell) when the 13-period EMA falling
  MACD(12,26,9) histogram falling
• Trade long (Buy) 13-period EMA rising
  MACD(12,26,9) histogram rising

Below is the Impulse System for MT4 with which includes the 65 EMA & 13 EMA (in Moving Average Ribbon form) as well as the WIS MACD by Vladimir Gospodinov which was purposely designed for this system.

A PDF has also been attached which includes information on Elder's systems.

PS: Thanks to Mrtools's MTF + Interpolation this system works very well on the 1 Hour charts using 4 Hour MTF

Hi mrtools,

Is it possible to add also alerts to this indi?
Thank you!

mrtools wrote: Tue Oct 22, 2019 4:31 am

Try this one not quite completely fixed but works ok, the arrows should work on whatever color display you use. Has color on slope,zero cross, or signal cross.

bmwaddicted wrote: Fri Jan 10, 2020 10:15 pm Hi mrtools,

Is it possible to add also alerts to this indi?
Thank you!

Added alerts, which should work on whatever color display you use.