I know MACD is comprised of the “signal” and the “main”, but what are these actually? Specifically I am interested in knowing what the “main” part of MACD is.
I know it has something to do with moving averages, but how does it go up and down around a central point at 0.00?
Also why does MACD have different highs and lows for each currency or at any given time? Because it is based off of the price of the pair?
What I am specifically looking for is how I can make a [B]universal[/B] MACD-type indicator that will show up/down trends the same way an ordinary MACD does, on any chart. Like say the top is always 1 and the lower is always -1 and 0 is always in the middle.
Is it possible???
Hi Yarcofin,
Google MACD, first non advert link that comes up.
Good stuff.
Short answer is you cannot in general project back between 1 and -1.
But there are exceptions particularly in crosses, which are not traded directly. I just wrote an article on the top of your question, and I am posting it to my blog (http://stocksprofessor.blogspot.com).
Thanks MTP, helpful as always 
[B]“The MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA.”[/B]
This is all I was looking for. Now I’ve got my custom indicator made (MACD minus the signal line) 
YouTube - Technical Analysis Indicator MACD part one
[B]See these videos in detail in three parts… Maybe you may find something which might be usefull for you.
PipHacker!!! [/B]