OPEN-SOURCE SCRIPT
MACD + Averages
Updated
A classic MACD with average peak and dip lines. The lighter green and red horizontal lines are the average peak and dip of the entire span, respectively. The second, bolder of the two lines are the averages of the peaks and dips above and below the overall peak and dip averages. The filled in color is to help visualize these averages and possible trade setups.
Release Notes
- Reworked the high and low averages
- Added an average range for easier over-extension detection
- Added higher low and lower high signals
Release Notes
Added monitor to right side of the chart, and input to toggle monitorOpen-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.
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