A faster version of macd. It has a diference from the original zero lag ema, i divided two sma instead of ema based on ZeroLag EMA - see Technical Analysis of Stocks and Commodities, April 2000
Comments
ChartArt
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My second test shows the "zero-lag" version can give MUCH better signals in the 1-day chart than the usual MACD. Wow! I like what I see here. Thanks again for sharing this indicator.
glaz
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Im glad you like it :) you can change the sma under the fast and slow line in the code to ema as the original, but for me sma looked better.Also if you have any requests you can PM me or ask at Pinescript chat.
ChartArt
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SMA instead of EMA. That explains it all :)
But I'm surprised the signals in the 1-day chart with ZeroLag MACD are still faster even with the very slow SMA. The ZeroLag filter seems therefore to be very useful.
ChartArt
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Big downtrend coming, if you use EMA, not the slow SMA.
Real MACD with EMA (and ZeroLag) also shows what I found out with other indicators: that we are already below the zero line and in the same situation as in January, February 2014 - before the big downtrend started.
ChartArt
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Comparison with the classic MACD:
ChartArt
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Interestingly in the daily chart your SMA version starts to look more bullish right now than the EMA versions (with and without zero-lag):
glaz
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i have another version of macd that more trend friendly and works nice with pivots
ChartArt
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Interesting. If you want to share the code on Pastebin or on TradingView I would be happy to test this other MACD version you made.
ChartArt
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Thanks for providing this indicator, Glaz. I was searching for it and I'm happy you provide it on TradingView.
From my first test: Be careful with the "Zero-Lag MACD". I just tried your script and this version of the MACD appears to give slower signals in the 1-week chart than the original standard version:
But I like so far, that the ZeroLag signal is easier to read than the default MACD: