OPEN-SOURCE SCRIPT
Smarter MACD
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. Rework of the MACD + Averages script.
Release Notes
Clarified momentum divergence signalsRelease Notes
Clarified momentum divergence markersRelease Notes
Added background coloring to better visualize clear bullish or bearish momentumRelease Notes
Added background coloring to better visualize clear bullish or bearish momentum, credits, updated indicator preview, and discord link.Don't forget to join the Discord group: discord.gg/fsbbhDZ3
Release Notes
Added ATF (Adjustable Time Frame) for detecting confluence with higher timeframes, as well as color controls to differentiate between the two timeframes. By adding two to a chart, you can merge them to create overlaps by clicking on the ellipses on the indicator (...), clicking "Move To", and clicking the "Existing Pane Above" or "Existing Pane Below" options.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.