rs_MACD — Indicator by RicardoSantos

Moving Average Convergence / Divergence (MACD)

macd

Default MACD system with a enhanced color switch and visual looks

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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Want to use this script on a chart?

study(title="[RS] Moving Average Convergence/Divergence", shorttitle="[RS]MACD")

//  Notes: { RS-MACD
//  @author     - RicardoSantos
//  Indicator   - Moving Average Convergence/Divergence "MACD"
//  Notes       - the only diference is the color switch and visual aspect.
//  }

source = ohlc4
fastLength = input(12, minval=1), slowLength=input(24,minval=1)
signalLength=input(6,minval=1)

fastMA = ema(source, fastLength)
slowMA = ema(source, slowLength)
macd = fastMA - slowMA
signal = sma(macd, signalLength)
hist = macd - signal

c1 = macd > signal and macd >= macd[1] ? green : #fda8a8
c2 = signal > macd and signal <= signal[1] ? red : #a8fdab

p0 = hline(0, color=black, linewidth=1)
p1 = plot(hist, style=area, color=teal, transp=80, linewidth=2, title="Histogram")
p2 = plot(macd, color=c1, style=circles, linewidth=2, join=true, title="MACD")
p3 = plot(signal, color=c2, style=circles, linewidth=2, join=true, title="Signal")