MACD makes use of moving averages and therefor usually lags behind the price. It is possible to eliminate lag completely but the work around of this is usually by adding a component of the price/MA difference back to MA. This technique is called Zero-lag. It is not zero lag but it is close enough. "MACD Leader" makes use of this to form a leading signal to MACD.
First proposed by Giorgos E. Siligardos, "Leader" leads normal MACD , especially when significant trend changes are about to take place. This has the following features: - It is similar to MACD in smoothness. - It can be plotted along with MACD in the same window using the same scaling. - It has the ability to lead MACD at critical situations
This script provide an option to plot MACD and MACD leader signal on the same pane. You can enable/disable them how you want via options page. It also has the option to change to different MA types.