OPEN-SOURCE SCRIPT
Volume Weighted Normalized MACD
Updated
The base of this Indicator is MACD but I've weighted it using Volume also Normalized it.
You can use it for divergence and other strategies such as signal line cross with macd line.
Enjoy.
You can use it for divergence and other strategies such as signal line cross with macd line.
Enjoy.
Release Notes
Added option to control volume weight, normalizationAdded Bands
Added Colorful MACD Line
Release Notes
Better Colorful MACDOpen-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 publication is governed by House rules. You can favorite it to use it on a chart.
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