OPEN-SOURCE SCRIPT

Dual MACD Combo

108
Core Function

It combines two separate MACD indicators with different settings into a single tool so you can:

Confirm trend strength

Filter out weak or fake signals

Spot higher-probability buy/sell moments

Think of it as MACD confirmation mode.

What You See on the Chart
1) Two Full MACDs in One Pane

Each MACD includes:

MACD line

Signal line

Histogram

So you’re not losing any normal MACD information—just stacking them together.

2) Fully Customizable Settings

You can change for both MACDs independently:

Fast EMA length

Slow EMA length

Signal smoothing

This lets you do things like:

One fast MACD for early momentum

One slow MACD for trend confirmation

3) Color-Coded Histograms

Helps quick visual reading:

Positive momentum → cool colors

Negative momentum → warm colors

So you can judge direction instantly without staring at numbers.

4) Clear Combined Buy/Sell Signals

This is the big feature:

BUY signal

Appears when:

MACD 1 is bullish AND

MACD 2 is bullish

→ Stronger confirmation than a single MACD.

SELL signal

Appears when:

MACD 1 is bearish AND

MACD 2 is bearish

→ Helps avoid early exits or fake reversals.

5) Zero Line Reference

The horizontal zero line lets you quickly see:

Momentum above zero → bullish bias

Momentum below zero → bearish bias

Classic MACD context, still included.

Practical Trading Use

This indicator is especially good for:

Trend confirmation entries

Filtering choppy markets

Swing trading

Momentum continuation setups

Not ideal alone for:

Ultra-fast scalping

Precise stop placement

(But we could extend it to handle those.)

What It Could Be Upgraded To

Easy next upgrades if you want:

🔔 TradingView alerts

📊 Full backtest strategy

⏱ Multi-timeframe confirmation

🧠 Smart signal filtering (ATR, trend filter, etc.)

🎨 Cleaner professional visual layout

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.