Hi Uday

I'm not sure what you're asking for. Do you want MACD based on daily or hourly data? I get it that your charts are hourly, but "daily close of macd histogram" has me scratching my head.

Roy

Hi Uday

You've rearranged the words but the meaning is still unclear.

I've created a couple of hourly charts and plotted a daily MACD in histogram form with a 9-day signal line. One chart plots the same daily value for every hour until the end of the day and the other chart plots a daily MACD in histogram form just once each day. If neither of these are what you are looking for them you will need to explain what you want a little more clearly.

http://www.metastocktips.co.nz/snap1.jpg, http://www.metastocktips.co.nz/snap2.jpg

Sorry, I left the scale off the charts but it does have hourly bars.

Roy

Hi Uday

OK, so the charts I posted are exactly what you asked for, give or take a signal line or two. So what is it about the charts that you don't think is correct? Were you expecting a daily MACD to plot as a nice smooth line or profile? An indicator based on daily data can only change value once every 24 hours, and this is why you see a "stepped" histogram and signal line - the value only changes at the end of each day.

Roy

Hi Uday

It's not quite as simple as me handing over my code because I use a proprietary DLL in a number of my Multi-Frame formulas. Here's a version that has the Forum DLL as a substitute for the MSTT DLL. The difference is that the Forum DLL cannot use partial periods in the EMAs needed to create MACD. Therefore you're stuck with an approximation using periods of 12 and 26 instead of 12.3333 and 25.6667 (which give new to old data ratios of 0.15 and 0.075 for the EMAs). If the formula below is not accurate enough then you'll need to purchase the MSTT DLL from me.

Assuming this does the trick it will initially plot MACD and Signal as lines - you'll need to convert one to a histogram by changing the the line style. To avoid having to repeat that process on every chart you should create a new default template once you've set up a chart just the way you want it. Hope this helps.

Roy

{Multi-Frame X MACD special}
{Requires Equis Forum DLL}
{Roy Larsen, 2009-2010, 27/7/10}

{User settings}
N:=Input("Multi-Frame X MACD, Signal Periods",1,19,9);
J:=Input("Hours per Frame, (1-24)",1,24,24);
J:=If((J<5)+(J=8)+(Mod(J,6)=0 AND J<>18),Int(J),2)*60;
Q:=Input("Mode, 0=Static 1=Dynamic 2=Delayed",0,2,1);
{Update on last bar, new bar or new frame}

{Timing signals}
{Day counter by metastocktools.com}
D:=DayOfMonth();F:=Rnd(Life(291231));
Z:=Cum(1);D:=ValueWhen(1,Z=1,F+D)-F;
D:=D*1440+Minute()+Hour()*60;
I:=Int(If(J=1440,D,D-1)/J);
I:=I>ValueWhen(2,1,I);
G:=LastValue(Lowest(Sum(I>0,9))>7);
I:=ExtFml("Forum.Sum",I,1);M:=G+I;
F:=ExtFml("Forum.Sum",Ref(I,1),1)*(M=0)+G;
B:=LastValue(Z);A:=B-1=Z;B:=B=Z;
F:=F+B*(Q=0)*(D/J=Int(D/J))*(Mod(D,1440)>0);
J:=If(F,1,(Alert(F,2)=0)*M*2*(Z>1));
J:=If(A+LastValue(J)>2 OR B+(Q=1)=2,1,J);
J:=If(G,1,If(Q=2,M*2,J));

{Frame CLOSE}
K:=ValueWhen(1,J,If(J=1,C,ValueWhen(2-G,1,C)));

{Calculate/plot MACD and signal}
X:=ExtFml("Forum.Mov",K,If(J,12,Pwr(10,10)),E);
Y:=ExtFml("Forum.Mov",K,If(J,26,Pwr(10,10)),E);
R:=X-Y;
Z:=ExtFml("Forum.Mov",R,If(J,N,Pwr(10,10)),E);
R; {MACD}
Z; {Signal}