OPEN-SOURCE SCRIPT
MACD Bands
Updated
This is MACD indicator on the price chart. You can read the same information as the original MACD but much more.
You can use it the same way as MACD but it won't use any space below your chart. Also you can use signal line and cloud as trend confirmation: e.g. if above them it can be a stronger uptrend.
You can use it the same way as MACD but it won't use any space below your chart. Also you can use signal line and cloud as trend confirmation: e.g. if above them it can be a stronger uptrend.
- The signal line (yellow by default) can be used as a support-resistance line.
- If teal line is above maroon line, MACD is positive, otherwise it is negative
- MACD value is the width of the cloud
- Cloud color is green when MACD histogram is positive, red if negative
- You can change MA types
- MACD and histogram values can be seen in Data Window
Release Notes
Different (background) colors for growing and falling histogram.Release Notes
Fix "Slow length" titleOpen-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.