AFL Library

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Details:

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Description:

Sometimes, it can be difficult to view the MACD histogram bars when the MACD lines are very close together, causing the bars to be very short. This indicator automatically adjusts the scaling of the MACD histogram bars such that they occupy the maximum area in its indicator pane.

Formula:

PeriodFast = Param( "Fast EMA", 12, 2, 200, 1 );
PeriodSlow = Param( "Slow EMA", 26, 2, 200, 1 );
PeriodSignal = Param( "Signal EMA", 9, 2, 200, 1 );
MACDInd = MACD(PeriodFast, PeriodSlow );
SigInd = Signal(PeriodFast, PeriodSlow , PeriodSignal );
HistInd = MACDInd - SigInd ;
_N( macdStr = WriteVal( PeriodFast, 1.0 )+","+WriteVal( PeriodSlow , 1.0 ) );
_N( sigStr = macdStr + ","+WriteVal( PeriodSignal , 1.0 ) );

// Get displayed min and max value of MACD and MACD-H, to rescale it for better
visibility
// BarsDisplayed = BarsSince( Status("barvisible") AND NOT
Ref(Status("barvisible"),-1)  );
BarsDisplayed = IIf( IsEmpty(BarsSince( Status("barvisible") AND NOT
Ref(Status("barvisible"),-1) ) ),
                     BarIndex(),
                     BarsSince( Status("barvisible") AND NOT
Ref(Status("barvisible"),-1) ) );
scMACDMax = LastValue(HHV(Max(MACDInd, sigInd), BarsDisplayed ) );
scMACDMin = LastValue(-HHV(Max(-MACDInd, -sigInd), BarsDisplayed ) );
scaleMACD = Max( abs(scMACDMax), abs(scMACDMin) ); 

// Plot(BarsDisplayed, "bars", colorBlue );
// Plot( HHV(Max(MACDInd, sigInd), BarsDisplayed ), "max", colorGreen );
// Plot( -HHV(Max(-MACDInd, -sigInd), BarsDisplayed ), "min", colorRed );
// Plot( scMACDMax, "max", colorGreen );
// Plot( scMACDMin, "min", colorOrange );

scHistMax = LastValue(HHV(HistInd, BarsDisplayed ) );
scHistMin = LastValue(LLV(HistInd, BarsDisplayed ) );
scaleHist = Max( abs(scHistMax), abs(scHistMin) );

HistColour = colorBlue;
// HistColour = IIf( HistInd > Ref(HistInd,-1), colorBlue, colorRed ); 
Plot( HistInd, "", HistColour, styleHistogram  | styleThick | styleOwnScale , 
      -scaleHist * 1.2, scaleHist * 1.2 );
Plot( MACDInd, "", colorBrightGreen);
Plot( SigInd , "", colorRed);

Plot( scaleMACD * 1.2,"", colorRed , styleNoDraw );
Plot( -scaleMACD * 1.2 ,"", colorRed , styleNoDraw ); 
GraphXSpace = 0;

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