Would anyone be able to create a script to plot the "MACD Price Threshold Line" as described in the following video?
Had to watch it a couple of times to understand it, but it seems it could be valuable. The reason of this is due to the predictive nature, as opposed to many of the lagging indicators that we typically deal with. Description from YouTube:
For MACD traders it is like turning on the lights on your car. The exactly when to enter a trade using the MACD line. You will be able to place your order on the day the MACD line is pointed down and be in the trade the first day the MACD has turned up. There is no need to wait for the MACD signal line to be crossed. This is too late to enter the trade. For W Bottom traders this will show you how to enter the trade before the W is complete.
The gist of the formula is that the "MACD Price Threshold" = "the closing price that would have to occur if the MACD line were to remain completely flat."
Had to watch it a couple of times to understand it, but it seems it could be valuable. The reason of this is due to the predictive nature, as opposed to many of the lagging indicators that we typically deal with. Description from YouTube:
For MACD traders it is like turning on the lights on your car. The exactly when to enter a trade using the MACD line. You will be able to place your order on the day the MACD line is pointed down and be in the trade the first day the MACD has turned up. There is no need to wait for the MACD signal line to be crossed. This is too late to enter the trade. For W Bottom traders this will show you how to enter the trade before the W is complete.
The gist of the formula is that the "MACD Price Threshold" = "the closing price that would have to occur if the MACD line were to remain completely flat."
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