chentz MACD
An adaptation of MACD. I added:
- Zero line cross signal
- MACD/Signal line cross signals with arrows
- Max/Min lines threshold
Theoretical foundation is from goo.gl/HedRRz
- Zero line cross signal
- MACD/Signal line cross signals with arrows
- Max/Min lines threshold
Theoretical foundation is from goo.gl/HedRRz
study(title="chentz MACD", shorttitle="MACD") source = close fastLength = input(12, minval=1) slowLength=input(26,minval=1) signalLength=input(9,minval=1) maxLine=input(title="Max. Line", type=float, defval=0.3) minLine=input(title="Min. Line", type=float, defval=-0.3) fastMA = ema(source, fastLength) slowMA = ema(source, slowLength) macd = fastMA - slowMA signal = ema(macd, signalLength) hist = macd - signal plot(hist, color=red, style=histogram) plot(macd, color=blue) plot(signal, color=orange) hline(maxLine, title="Max Line", linestyle=dashed, color=green) hline(minLine, title="Min Line", linestyle=dashed, color=red) bgcolor(macd>=0 ? green : red , transp=90) plotshape(crossover(macd, signal) ? macd : na, style=shape.triangleup,location=location.bottom, color=green) plotshape(crossunder(macd, signal) ? macd : na, style=shape.triangledown,location=location.top, color=red)