The ImpulsePaintBar colors the candles/bars on a chart according to the "impulse" experienced on that candle/bar.
The Impulse Indicator is one of the studies that comes with the
The ImpulsePaintBar and ImpulseMACD studies are identical in calculation and differ only in presentation. The first one changes the colors of the bars of the symbol that you apply it to. The second colors a standard MACD Histogram study with the same colors.
The charts differ in that the first shows Japanese candles and the second HLC bars. Otherwise they are the same.
You will notice that the default settings for the MACD are 12, 26, and 9. These are the settings that the whole world uses for the MACD. We believe that you will gain a significant advantage if you use the settings 11, 25, and 8 which will mean that you will get the signals slightly ahead of the crowd and be able to react that little bit faster than they will.
To configure the study please right click on an advanced chart that has the study loaded and from the menu select Edit Studies... and in the subsequent dialog box select the appropriate study from the drop down list in the top left hand corner next to the label Study:
|Fast Length||Number of bars to use in the fast moving average. Default is 12. We recommend that you use 11.|
|Slow Length||Number of bars to use in the slow moving average. Default is 26. We recommend that you use 25.|
|Smoothing Length||Number of bars to use when smoothing the differential of the moving averages. Default is 9. We recommend that you use 8.|
|Source||The part of the price bar that is used in the calculations. The default is the Close but it can also be the open, low, high or an average of more than one of these.|
|SMA (MACD Oscillator)||Default is false. If set to true will use the SMA (instead of EMA) to calculate the MACD Oscillator.|
|SMA (Signal)||Default is true. If set to false will use the EMA to calculate the signal line.|
|EMA (Inertia)||Number of bars used to calculate the Exponential Moving Average (EMA) of the symbol being charted to compare against the MACD.|
|Neutral Color||Default CYAN . Color is neutral if the EMA (inertia) and the MACD are moving in opposite directions.|
|Up Color||Default GREEN . Color is green when both the EMA (inertia) and the MACD are moving up.|
|Down Color||Default RED . Color is red when both the EMA (inertia) and the MACD are moving down.|
Other indicators in this Pack/Series: