MACD Multitimeframe Histogram Color with shapes

MACD Multitimeframe Histogram Color with Shapes

Overview
This indicator displays MACD status across 8 timeframes simultaneously in a single pane. Each timeframe is represented by a row of shapes that indicate both the MACD direction (above or below signal) and whether the histogram is expanding or contracting.
The visual encoding lets you quickly assess trend alignment across multiple timeframes without switching charts or cluttering your screen with multiple MACD panels.

How It Works

For each of the 8 configurable timeframes, the indicator calculates the standard MACD (fast MA minus slow MA) and signal line. It then determines:

Direction: Is MACD above or below the signal line?
Momentum: Is the histogram expanding (moving away from zero) or contracting (moving toward zero)?

Shapes indicate direction:

Circle: MACD above signal (bullish)
X Cross: MACD below signal (bearish)

Colors indicate momentum:

Bright green: Bullish and expanding
Dark green: Bullish but contracting
Bright red: Bearish and expanding
Dark red: Bearish but contracting

Each timeframe plots on its own horizontal level, with shorter timeframes at the bottom and longer timeframes at the top.

Settings

MACD Parameters:

Fast Length: Fast MA period (default 12)
Slow Length: Slow MA period (default 26)
Signal Smoothing: Signal line period (default 9)
Oscillator MA Type: SMA or EMA for MACD calculation
Signal Line MA Type: SMA or EMA for signal line

Colors:

Bullish Expansion Color
Bullish Contraction Color
Bearish Expansion Color
Bearish Contraction Color

Timeframes:

8 configurable timeframes (default: 5m, 10m, 15m, 30m, 1H, 2H, 4H, 1D)

Usage

Look for alignment across timeframes. When most or all timeframes show the same direction and are expanding, it suggests strong trend momentum. Mixed signals or contracting histograms across timeframes may indicate consolidation or potential reversal.
This works well as a confirmation tool alongside price action analysis or other indicators. The multi-timeframe view helps avoid taking trades against the higher timeframe trend.

Tip:
You can turn off as many MACDs as you want and it will resize. I usually use 4 - and keep them close together time wise. For the 5 minute chart, I use 5, 7, 9, 11 minutes. For something longer, like the hour chart, I will use 60 minutes, 75 minutes, 90 minutes, and 105 minutes (15 min intervals).