Use Jurik MA to build MACD and many people need to judge the market trend against the main candlestick chart when using MACD .
Function
First of all, the MACD function is built with Jurik MA and ALMA for better performance. Second, the principle of MACD is the difference between EMA's long-term and short-term values. So, I wonder if it is possible to use EMA to construct a set of candle charts that are similar in proportion to MACD values for overlapping comparisons? Because this can greatly facilitate traders to make quick trend judgments. So I used the 3-8 lines of EMA to simulate the KD of KDJ, constructed a set of candle charts, and generated buying and selling points through conditional constraints. Do you like this MACD + Candlestick chart?
Key Signal
Traditional Jurik MACD output signal Candlesticks Near Top --> Top is reached and reversal may happen soon. (fuchsia labels) Near Bottom --> Bottom is reached and reversal may happen soon. (yellow labels)
If I could offer a small bit of advice from a user perspective. The labels seem to be a bit invasive to the visual elements of the indicator. Adding customizable labels would be nice to change labels to dots at top or bottom of window.