Etherist Member  Posts: 25 Joined: 6/9/2024 Location: South Australia  User Profile | Accessing the components of the impulse MACD (iMACD), can be achieved within OmniTrader using OmniScript. Accessing iMACD Components in OmniTrader: To access the trigger line, signal line, and histogram of the impulse MACD with parameters (34,9), you can use OmniScript to calculate and plot these values. OmniScript Example: ================================================================== ' Define parameters for the iMACD Dim FastLength As Integer Dim SlowLength As Integer Dim SignalSmoothing As Integer FastLength = 34 SlowLength = 9 SignalSmoothing = 9 ' Calculate the MACD line and Signal line Dim MACDLine As Series Dim SignalLine As Series Dim Histogram As Series MACDLine = MACD(Close, FastLength, SlowLength) ' MACD line using close prices SignalLine = Signal(MACDLine, SignalSmoothing) ' Signal line (EMA of MACD line) ' Calculate the Histogram as the difference between MACD line and Signal line Histogram = MACDLine - SignalLine ' Plot the iMACD components Plot1(MACDLine, "MACD Line", ColorBlue) Plot2(SignalLine, "Signal Line", ColorRed) Plot3(Histogram, "Histogram", ColorGreen) ' Optionally, you can add logic for trading signals based on the iMACD If CrossOver(MACDLine, SignalLine) Then Buy("Buy Signal") ElseIf CrossUnder(MACDLine, SignalLine) Then Sell("Sell Signal") End If =================================================================== Explanation 1. Define Parameters: - `FastLength`: The fast period length for the MACD. - `SlowLength`: The slow period length for the MACD. - `SignalSmoothing`: The period length for the signal line. 2. Calculate MACD Line and Signal Line: - `MACDLine`: Calculated using the `MACD` function with the `Close` price and specified fast and slow lengths. - `SignalLine`: Calculated as the EMA of the `MACDLine` over the `SignalSmoothing` period. 3. Calculate Histogram: - `Histogram`: The difference between the `MACDLine` and the `SignalLine`. 4. Plot the Components: - `Plot1`: Plots the `MACDLine` in blue. - `Plot2`: Plots the `SignalLine` in red. - `Plot3`: Plots the `Histogram` in green. 5. Trading Logic (Optional): - Includes basic trading signals for crossover events between the `MACDLine` and the `SignalLine`. Customisation and Use: - Customisation: Adjust the `FastLength`, `SlowLength`, and `SignalSmoothing` parameters to fit your specific needs. - Use: Implement this script within OmniTrader to plot and potentially use the iMACD components for your trading strategy. | |
