MACD Color | Improved version with colored histograms

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Improved MACD indicator with histogram and custom bar colors

MACD Color

MACD Color

An improved version of the standard NinjaTrader MACD indicator that highlights MACD histogram and bars depending on signal.

Free

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Description
How to use
Requirements
Installation

This is an improved version of a standard NinjaTrader MACD indicator, which highlights MACD histogram and bars with custom colors depending on signal.

While MACD may be extremely effective for both trending and break out markets, in the most cases it should be used as a confirmation along with other indicators.

Features overview

Set up / down colors for MACD histogram. This helps to identify Buy/Sell signals.
Optionally set up / down / and outline colors for bars to clearly see the signals on the main chart.

How to use

MACD itself is a powerful indicator and can be used in many different ways.

MACD Divergence is one of the most famous and strongest trading signals that MACD generates. MACD Divergence forms when the price goes up and makes higher highs and at the same time, MACD bars go down and make lower highs. The rule says, the price will finally follow the MACD direction and will go down.
Moving average crossover signal - a buy signal is generated when the MACD (green line) crosses above the zero line.
MACD Buy Signal - a buy signal is generated when the MACD (green line) crosses above the MACD Signal Line (violet line).
Customize all MACD parameters. Tune and optimize to find the winning parameters.

Requirements

This indicator requires NinjaTrader version 7

Installation

Save the zip-file (no need to unzip) to the location of your choice
Go to menu Control Center -> File -> Utilities -> Import NinjaScript...
Select the saved zip-file in the opened dialog
If everything is OK you will see a confirmation (otherwise an error will be displayed)
Restart NinjaTrader and you are good to go!

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Risk Disclosure:
Futures and Forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.