OPEN-SOURCE SCRIPT
MACD Pro
Moving average convergence divergence pro.
Original MACD with new features, Including...
1. Three different modes.
Basic, Logarithmic, Percent (calculates difference of oscillator MAs in percent)
2. Additional moving averages for oscillator, signal and even histogram.
EMA, WMA (linearly weighted), LMA (logarithmically weighted), SMA
Volume Weighted RMA (I've been suggested to make a MACD with the VWEMA that I published recently but that was too fast, this almost 2 times slower because of using RMA instead of EMA)
VWRMA(s) (an alternative for VWRMA which uses candle formation to simulate the volume, can be useful when volume is not provided for the symbol or it is not proper)
And DEMA (Double Exponential MA)
3. Signal Displacement.
If you want to add some delay to signal, could help for extra confirmation of center crosses and removal of some falss ones.
4. Histogram Smoother.
For those who like the smooth curves. Can deliver a cleaner histogram even in volatile markets.
5. Bar color for more fun.
Original MACD with new features, Including...
1. Three different modes.
Basic, Logarithmic, Percent (calculates difference of oscillator MAs in percent)
2. Additional moving averages for oscillator, signal and even histogram.
EMA, WMA (linearly weighted), LMA (logarithmically weighted), SMA
Volume Weighted RMA (I've been suggested to make a MACD with the VWEMA that I published recently but that was too fast, this almost 2 times slower because of using RMA instead of EMA)
VWRMA(s) (an alternative for VWRMA which uses candle formation to simulate the volume, can be useful when volume is not provided for the symbol or it is not proper)
And DEMA (Double Exponential MA)
3. Signal Displacement.
If you want to add some delay to signal, could help for extra confirmation of center crosses and removal of some falss ones.
4. Histogram Smoother.
For those who like the smooth curves. Can deliver a cleaner histogram even in volatile markets.
5. Bar color for more fun.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.