MAROC Fast/Slow

Not sure if a similar indicator already exist, so I created my own. After creating this indicator, I realize it looks very similar to MACD. However, it strictly uses Hull moving average in its calculation for the lines.
MAROC is simply Moving Average Rate of Change. This is a trend-following indicator that calculates the rate of change on two Hull moving averages. By default it calculates the ROC on 60-period HMA (green and red) and 180-period HMA (blue and orange). The zero line represents the confirmation of change in trend. Above zero is up trend and below zero is down trend. Note the difference between the "trend reversal" and the "confirmation of a trend". I like to define trend reversal by the change in direction

The colored squares on the zero line has 4 colors that represents the overall trend. Here I include the slowdown of MAROC as the start of a trend.
- bright green = when both the slow and fast MA are trending up
- faded green = when slow MA trending up, but fast MA trending down
- faded red = when slow MA trending down, but fast MA trending up
- bright red = when both the slow MA and fast MA are trending down

Trend changes triangles are shown to signal the change in trend direction (trend reversal). Green and blue triangles are trend reversal to the upside. Red and orange triangles are trend reversal to the downside.

This indicator includes the option of displaying buy(long) and sell(short) signals that follows these rules. Use at your own discretion, as it may not apply well with your market or ticker.
- Long = Bright green square and either fast or slow MAROC changes trend direction to the upside
- Short = Bright red square and either fast or slow MAROC changes trend direction to the downside

Enjoy~! Please let me know if you find this useful and which market / ticker and timeframe you are using it on~ :)

Release Notes:

Added option (new default) to change coloring scheme.
Option 1 (new default)
- green/blue when trend is starting to reverse up
- red/orange when trend is starting to reverse down
Option 2
- green/blue when uptrend is confirmed (ROC > 0)
- red/orange when downtrend is confirmed (ROC < 0)

Release Notes:

No change to code, just updating screenshot.