OPEN-SOURCE SCRIPT
4H MACD updated
This is a version of 4H MACD used in 4Hour MACD strategy from Forex Factory. I added on it a standard 12/26/9 crossover which shows sometimes additional adds to position.
I personally use this indicator intraday on Futures 5' TF with following setups:
* Continuation
* Lower High /Higher Low Histogram divergence;
* Round Top/Bottom Histogram;
* Through "Zero" and back or bounce from "Zero".
I personally use this indicator intraday on Futures 5' TF with following setups:
* Continuation
* Lower High /Higher Low Histogram divergence;
* Round Top/Bottom Histogram;
* Through "Zero" and back or bounce from "Zero".
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.