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MACD Indicator Drawing


jfritchey

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The MACD Indicator (12,26,9) drawing on the Historical Chart is drawn with the center line (0) of the histogram at a value of about .65 .  The 12 and 26 EMA lines are drawn to cross over the at the 0.0 value. How do I change the Histogram to show the switch from red to green to occur at the 0.0 value so it coincides with the EMA line cross over at 0 and presents  a clearer visual reference of the 0 line crossover?

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The MACD scales are naturally very different for the Histogram vs. the two lines from which the Histogram is built. The scale you see when MT plots the MACD is the lines' scale. The Histogram is not on that scale. It "floats" to fit as much of it into the Y scale as possible. Its 0 is where the crossovers occur, and is pretty obvious, thus it doesn't really need to coincide with the 0 on the right-side Y scale.

In fact, AFAIU, the actual values of the two lines from which MACD is built are not really relevant. Neither are the actual values of the Histogram. It is the above/below 0 for the histogram (which are the crossovers for the two lines) that is important.

If you *really* want the 0s to coincide, here's the way:

Put two indicators at the bottom: MACD and MACD Histogram. Uncheck the "Show Histogram" parameter on the MACD. Link the two indicators.

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