OPEN-SOURCE SCRIPT
KINSKI Flexible MACD
Updated
Flexible MACD (Moving Average Convergence/Divergence) Indicator
The Moving Average Convergence Divergence consists of three elements: two moving averages (the MACD line and the signal line) and a histogram. The blue MACD line is the difference between a longer and a shorter EMA (here 13 and 21 periods preset), the red signal line is an SMA (here 8 preset) on the MACD line. The histogram (green: ascending, red: descending) shows the difference between both lines.
As soon as the blue MACD line crosses the red signal line, circles are generated that indicate an up/down trend. If the red signal line is greater than or equal to the blue MACD line, this indicates a downward trend (red circle). If the blue MACD line is greater than or equal to the red signal line, this indicates an upward trend (green circle).
The special thing about this MACD indicator is the many setting options, especially the definition of the MA variants for MACD (Fast, Slow) and signal. You can define the following MA types: "COVWMA", "DEMA", "EMA", "EHMA", "FRAMA", "HMA", "KAMA", "RMA", "SMA", "SMMA", "VIDYA", "VWMA", "WMA".
You also have the following display options:
- "Up/Down Movements: On/Off" - Shows ascending and descending MACD, signal lines
- "Up/Down Movements: Rising Length" - Defines the length from which ascending or descending lines are detected
- "Bands: On/Off" - Fills the space between MACD and signal lines with colors to indicate up or down trends
- "Bands: Transparency" - sets the transparency of the fill color
Disclaimer: I am not a financial advisor. For purpose educate only. Use at your own risk.
The Moving Average Convergence Divergence consists of three elements: two moving averages (the MACD line and the signal line) and a histogram. The blue MACD line is the difference between a longer and a shorter EMA (here 13 and 21 periods preset), the red signal line is an SMA (here 8 preset) on the MACD line. The histogram (green: ascending, red: descending) shows the difference between both lines.
As soon as the blue MACD line crosses the red signal line, circles are generated that indicate an up/down trend. If the red signal line is greater than or equal to the blue MACD line, this indicates a downward trend (red circle). If the blue MACD line is greater than or equal to the red signal line, this indicates an upward trend (green circle).
The special thing about this MACD indicator is the many setting options, especially the definition of the MA variants for MACD (Fast, Slow) and signal. You can define the following MA types: "COVWMA", "DEMA", "EMA", "EHMA", "FRAMA", "HMA", "KAMA", "RMA", "SMA", "SMMA", "VIDYA", "VWMA", "WMA".
You also have the following display options:
- "Up/Down Movements: On/Off" - Shows ascending and descending MACD, signal lines
- "Up/Down Movements: Rising Length" - Defines the length from which ascending or descending lines are detected
- "Bands: On/Off" - Fills the space between MACD and signal lines with colors to indicate up or down trends
- "Bands: Transparency" - sets the transparency of the fill color
Disclaimer: I am not a financial advisor. For purpose educate only. Use at your own risk.
Release Notes
- PineScript 4 compatibility increased. Deprecated attribute "transp" replaced by function color.new()
- Update function "funcSMMA()": extract the call of the the function 'sma' from the ternary operator
Release Notes
- Convert to PineScript5
Release Notes
- using PineScript "Groups" to sort the Options for better usability
- Updating the code while retaining the previous functionality
Release Notes
- add new MA Type "TEMA" (Triple EMA)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.