Improvements in the New Version
Additional Buy/Sell Signal Colors:
The new version introduces separate color options for buy and sell signals (buySignalColor, sellSignalColor), providing better visual differentiation between entry conditions.
MACD Signal Selector:
A new option allows the user to choose between using the MACD line or the histogram as the signal (macdSignalSelector). This adds flexibility for users who prefer different MACD components in their strategy.
Flexible Indicator Level Positions:
The new script introduces inputs for the starting level and the distance between levels (start_level, level_distance). This makes the indicator placement on the chart more customizable compared to the fixed Y-positions in the old version.
Improved Entry Signal Visualization:
The new version uses dedicated buy/sell signal colors for long and short entries, making it easier to distinguish them on the chart. The old version used the same general bullish/bearish colors for this purpose.
Enhanced Flexibility in Display Settings:
Inputs like start_level and level_distance provide users with better control over chart layout, ensuring the indicator adapts to different chart configurations.
Streamlined Alerts:
With better-defined entry signal colors and flexibility, the alert system in the new version aligns more clearly with the visual signals, improving usability.