Ultimate MACD Indicator for ThinkorSwim

germanburrito

Active member
Honestly macd is a great, so are bollingers, but its even greater to understand what bolingers are actually doing, they are taking the standard deviation, meaning the average extreme moves of the last (usually can be changed) 21 bars, look into what standard deviations are, all indicators do is show you a different way that price is moving, like it simplifies the idea that price is going up or down, the most simple form of this that i have come across is THE STRAT, this will allow you to visualize price action, trading without understand what the indicators are actually doing is only seeing the result, trading "indicators" are not the way to trade, but they do help you visualise what price is doing, one may argue that if everyone is looking at the same indicator than it becomes a self-fulfilling prophecy, meaning if everyone is looking at macd to across over to green than to buy than it works, or if everyone is looking at Fibonacci than it might work, i once saw a post by this creator of indicators name mobious, and he stated that more than three indicators is too much. read this

BkSx8Zq.png
 

horserider

Well-known member
VIP
@txp0601 Go back to post # 1. There is a chart section of just the indicator with some notes on possible use. See if that helps. If not ask a more detailed question of what you do not understand.
 

AshtheMan

New member
Hi horserider i just started using your macd indicator here but I am not sure how you are getting the buy/sell signal arrows on your chart?
 

MerryDay

Administrative
Staff member
Staff
VIP
@AshtheMan The indicator being discussed in this thread is displayed in the lower studies on post#1.
Arrows seen in the upper study are not part of this indicator and are not available. :(
 

JamesB

New member
Honestly macd is a great, so are bollingers, but its even greater to understand what bolingers are actually doing, they are taking the standard deviation, meaning the average extreme moves of the last (usually can be changed) 21 bars, look into what standard deviations are, all indicators do is show you a different way that price is moving, like it simplifies the idea that price is going up or down, the most simple form of this that i have come across is THE STRAT, this will allow you to visualize price action, trading without understand what the indicators are actually doing is only seeing the result, trading "indicators" are not the way to trade, but they do help you visualise what price is doing, one may argue that if everyone is looking at the same indicator than it becomes a self-fulfilling prophecy, meaning if everyone is looking at macd to across over to green than to buy than it works, or if everyone is looking at Fibonacci than it might work, i once saw a post by this creator of indicators name mobious, and he stated that more than three indicators is too much. read this

BkSx8Zq.png
Where do you find a script for trend pivots and volume wave?
 

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