OPEN-SOURCE SCRIPT
MACD Dashboard
The MACD Dashboard is an addition to my collection of various dashboards that are designed to help traders make wiser decisions.
How to Use MACD Dashboard:
How to Use MACD Dashboard:
- Timeframe Selection: Based on your trading style and preferences, choose the relevant timeframes. In the settings, enable or disable timeframes to focus on the most relevant ones for your strategy.
- Dashboard Interpretation: The MACD Dashboard displays green (🟢) and red (🔴) symbols to indicate when the MACD is in green or in the red zone. You can also leverage the MACD values on the dashboard to better interpret sentiment and its changes.
- Confirmation and Strategy: Consider MACD Dashboard signals as confirmation for your trading strategy. For instance, in an uptrend, look for long opportunities when the dashboard displays consistent green symbols. Conversely, in a downtrend, focus on short opportunities when red symbols dominate.
- Risk Management: As with any indicator, use the MACD Dashboard in conjunction with proper risk management techniques. Avoid trading solely based on indicator signals; instead, integrate them into a comprehensive trading plan.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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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.