Advanced MACD

This is a more advanced version of the standard moving average convergence/divergence indicator (MACD). It allows you to change the type of all moving averages (Simple, Exponential, Weighted, Volume-weighted, Triple EMA or a moving average that uses RSI). By for example setting the period to 3/10/16 and use simple moving averages instead of exponential moving averages you can turn it into the modified version of the MACD oscillator (mMACD) described in detail in Appendix B in the book "The Art and Science of Technical Analysis: Market Structure, Price Action and Trading Strategies" by Adam Grimes.

The indicator also allows you to volume weight the indicator (turned on by default), which will turn it into a Volume-Weighted Moving Average Convergence Divergence (VW-MACD) first used by Buff Pelz Dormeier in 2002 and described in detail in his book "Investing with Volume Analysis: Identify, Follow, and Profit from Trends". If you want to weight the oscillator against the true range instead of volume this is also possible. By default, this will be done automatically for assets that do not support volume.

Nota Keluaran:

Added a setting that turns this indicator into a Percentage Price Oscillator.

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Added a setting that turns this indicator into a Percentage Price Oscillator.

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Some tags added.

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Support for StochasticMACD (also known as StochMACD or just SMACD) added.

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Update example graph.

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Set better default Stochastic Length

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Update example graph.

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Change back to correct default value for Stochastic Length.

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Update to Pine Script Version 4 and add resolution to study.