The Volume-Weighted MACD is Buff Dormeier’s straightforward amendment to Gerald Appel’s original Moving Average Convergence Divergence (MACD) indicator. However, instead of calculating the difference between two exponential moving averages this tool uses volume-weighted moving averages.
Scripting Function: VWMACD()
eg VWMACD().Histogram CrossesAbove 0
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple VW-MACD tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other VW-MACD tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new VW-MACD to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
OSC MA1: The number of bars that are averaged in the fast moving average for the base oscillator.
OSC MA2: The number of bars that are averaged in the slow moving average for the base oscillator.
Signal Bars: The number of bars that are averaged over the oscillator.
MACD: Expands to display the properties of the MACD line, such as colour, width, and transparency.
Signal: Expands to display the properties of the signal line, such as colour, width, and transparency.
Histogram: Change the colour scheme from single colour to match chart colours, etc.
Centre Line Style: Expands to display the properties of the centre line, such as colour, width, and transparency.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected, the current VW-MACD values will be displayed in the Price Scale.
Lock Tool: When selected, any changes to the tool will be prevented from being made.