The real MACD
Author: mike5
Creation Date: 1/2/2009 9:22 AM
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mike5

#1
The MACD in Wealth-lab is not like the one I see everywhere else. You know, where there are 3 numbers (usually 12, 26, 9) and I can change the value of each of these 3 numbers. How can I import, or download, the real MACD? And do it so that I can change the values of the 3 numbers and be able to "drag" it into new strategies that I create? I am not a programmer, but I have spent a lot of time creating strategies via "drag and drop" in Wealth Lab. So if anyone can offer me help, please be specific with your instructions.

Thanks,
mike5
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Eugene

#2
Welcome to our WL5 Wiki, where in a FAQ compilation you'll find this answered:
How do I create MACD indicator with custom parameters?
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mike5

#3
Thanks Eugene, I'll check that link out. I appreciate the help very much!

Mike
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Eugene

#4
Mike, just a follow-up. If you'd like to use that new MACD indicator in a rule-based strategy, be sure to get familar with "General Indicators" concept in the revamped Rule-based Strategy Wizard:

Tutorial Video | Indicators | Designing Rule-based Strategies, Combining different Indicators
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mike5

#5
Eugene, I'll check out the link you recommend. It took me awhile to get the community indicators downloaded, and I probably have the data in Wealth Lab 5 or 6 times now, but they're right there in my "add indicator" window. I notice that the third number of the MACD is not available to be changed. I had lowered the value from 9 to 4, for swing trading volatile stocks, and the turns are somewhat different. But I'll work with this. It's a lot better than what I had before. Thanks again. Mike
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Eugene

#6
Mike, you're right. The MACD Signal indicator doesn't allow tuning the 3rd parameter. I'll see how can this be fixed and will let you know.
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Eugene

#7
Update: I'll be adding a version of MACD Signal that supports configuring the 3rd parameter, along with a few other different indicators, with the next update of Community.Indicators (2009.01).
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mike5

#8
Eugene, That's above and beyond the call of duty. I'll look forward to seeing what else you've done. Do you have any "favorite" indicators? And if so, what time frame do you use them in? Thanks, Mike
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Eugene

#9
Well, here we go. I've just uploaded an update to Community.Indicators with a new entry, MACD_Signal3. This new MACD Signal answers your request (has the 3rd numeric parameter configurable as well) and at the same time won't break compatibility for other users working with the existing MACD_Signal.

Developer 5.1 users can update it directly from the Extension Manager. Pro 5.1 users may download the updated library from our WL5 Wiki: download link. In fact, one can be interested in doing so for the sake of adding 4 more different indicators: LaguerreRSI, TD REI, Density of Consolidation and Gann Swing Oscillator.
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mike5

#10
Eugene, I've got them downloaded. Thanks again for your help. I'll check out the other indicators within this group over the next few days. Mike