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GMMA-MACD

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The indicator itsels is a hybrid of the MACD and GMMA indicators, it has 2 modes, normal and Consensus mode.

The normal mode plots 2 modified MACD, one using the currently highest of the GMMA fast group to calculate the MACD line, and the other one uses the currently lowest of the slow group to do the same.

In Consensus mode all the GMMA moving averages being calculated separately, which means it uses 12 MACD indicators instead of 2, the logic is the same as in the normal MACD, turns bullish if MACD above it's signal line, in this mode also has a Donchian channel to help visualize potential divergences.

This mode can show trend direction and strength more effectively, and potential reversal points, coloring of the indicator is green if all MACD are in consensus of a bullish trend, turns light green if 7-11 of them shows slight/weakening bullish trend, orange for neutral (6-6), light red for 7-11 shows slight/weakening bearish trend, red if all shows bearish trend.

For easier adjustment instead of adjusting every single EMA period, the logic uses a multiplier to adjust the periods as a whole unit.

Tested in a few strategies against the normal MACD, as a trend filter, this one gave at least the same results, usually better, and because it's logic is dynamic it's more future proof than the normal MACD.

Penafian

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