Macddivergence
Moving Average Convergence/Divergence LineMACD Line instead of MACD histogram or area. This gives more opportunities to catch divergences.
I showed regular MACD Histogram on top and then this indicator on bottom and showed with the red and green lines where you could catch multiple bearish and bullish divergences using this indicator vs a regular MACD histogram.
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Thank you.
PMEX Momentum v1.0Newer version of Momentum indicator introducing 4 colors so easy to spot momentum bars ticking up or down. User can customize the colors etc and turning the MACD/Signal lines on/off.
This script is open to public so anyone can use it.
MACD Histogram/AreaIt´s just the histogram of the MACD. (Actually it´s not a histogram, I like the Area visualisation more. But you can switch.)
When I´m using the MACD, I´m just searching for a divergence between Price and the MACD-histogram. I´m not interested in the MACD-signalline or the MACD-line in any way. As you can see, The omission of them leads to better visualisation. It´s much easier to spot a divergence. On the one hand because that way the histogram scales bigger, on the other hand becauce the lines can´t overdraw the histogram.
Rules bullish Divergence: Price makes a lower low, oscillator makes higher low.
Rules bearish Divergence: Price makes a higher high, oscillator makes lower high.
