OPEN-SOURCE SCRIPT
MACD exit % indicator
Updated
Introduction
An exit indicator for MACD, good for triggering order exit via MACD.
It works by considering <current MACD hist> and the <max MACD hist after last flip>.
Then, it just exits when the % change in these values surpasses a threshold.
Indicators
blue line - MACD
orange line - Signal
green/red columns - Histogram
aqua background - Last Histogram Flip
fuchsia background - Max abs(Histogram) value after last flip
orange Background - Exit region
An exit indicator for MACD, good for triggering order exit via MACD.
It works by considering <current MACD hist> and the <max MACD hist after last flip>.
Then, it just exits when the % change in these values surpasses a threshold.
Indicators
blue line - MACD
orange line - Signal
green/red columns - Histogram
aqua background - Last Histogram Flip
fuchsia background - Max abs(Histogram) value after last flip
orange Background - Exit region
Release Notes
commentsRelease Notes
Sane defaults for hyperparametersRelease Notes
Fix plotOpen-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
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