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Improved MACDBB Indicator for NinjaTrader 8 (1583 downloads) Improved MACDBB Indicator for NinjaTrader 7 (2688 downloads)

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Download Now:Ĭlick the link below to download our Free Improved MACD BB indicator for NinjaTrader 7:

Our improved version of the indicator keeps the MACD value contained within the bands 72.00% of the time, making it much closer to what statistics teaches us that we should see.įor more information on what makes the calculations more accurate, please refer to my post on Bollinger Bands. In fact, the MACD value is only contained within the bands 40.54% of the time. However, when we look at the image above, we can see that the original indicator shows the MACD value inside of the bands much less than 68% of the time. In Statistics, we learn that 68% of our data set should occur within 1 standard deviations of the mean. In this particular image, the outer bands on both the original MACD BB indicator (pictured in the middle panel) and our improved version (pictured in the bottom panel) are calculated using 1 standard deviation. This forms a channel around the MACD, as seen in the image below. The MACD BB indicator utilizes the Bollinger Band indicator as well, however in the indicator the average and standard deviation are calculated based on the MACD value as opposed to the market price. The upper and lower bands are then calculated by adding and subtracting a multiple of the Standard Deviation (used to measure volatility) from the center of the channel. The center of the channel is generally calculated using a simple moving average of the market price. Bollinger Bands will plot a channel based on historical market prices and volatility. What makes our modified MACD BB indicator for NinjaTrader better than the original version? Both the MACD and Bollinger Band indicators are simple yet effective tool for measuring overbought and oversold conditions in the markets.

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