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This study calculates and displays an MACD, a Moving Average of the MACD, and an MACD Leader for the data specified by the Input Data Input. See the MACD study for an explanation of the notation used here.

The MACD and the Moving Average of the MACD are calculated in the same way as they are in the MACD study, except that the default setting of the MACD Moving Average Type Input is Simple Moving Average instead of Exponential Moving Average.

We denote the MACD Leader at Index \(t\) as \(MACDL_t(X,n_F,n_S)\), and we compute it as follows.

Note: Depending on the setting of the Input Moving Average Type, the Exponential Moving Averages in the last two terms on the right hand side of the above formula could be replaced with Linear Regression Moving Averages, Simple Moving Averages, Weighted Moving Averages, Wilders Moving Averages, Simple Moving Averages - Skip Zeros, or Smoothed Moving Averages.

For all three subgraphs, the output is displayed for \(t \geq n_M + \max\{n_F,n_S\}\).