The indicator plots the standard MACD indicator with the additional Leader line. Smoothing methods have lag, and since the MACD uses moving averages, it usually lags behind the price. It is impossible to completely eliminate the lag, but there is one workaround: to add the price/moving average difference component back to the moving average. This technique is called Zero-lag. The Leader MACD uses it to generate a leading signal for the MACD.
The indicator view in the chart.
The indicator has the following parameters:
Period - setting of the indicator value smoothing period.
Short Period - setting of the MACD short period.
Long Period - setting of the MACD long period.
Source - setting of the indicator calculation parameters:
Panel/Moving average period - selection of the indicator location in the chart:
- New panel
Show value - display of the indicator value on the price scale on the left.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Color - color setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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