WonderTones

MacD_MT

12
beta version of multiple macd indicator
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

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.

Want to use this script on a chart?
study(title="MacD_MT", shorttitle="MacD_MT")

//@version=2
find_max_bool(s1, s2, s3) =>
    bmax = false
    if (s2 - s3) > 0.01 and (s2 - s1) > 0.01
        bmax := true
    bmax

//@version=2
find_diver(ser, length) =>
    sign = ser[1] / abs(ser[1])

    abs_ser = ser * sign
    max1 = false
    max2 = false
    diver_found = false
    max2_pos = 0
    
    max1 := find_max_bool(abs_ser[0], abs_ser[1], abs_ser[2])
    if max1 == true
        for i = 1 to length - 1
            max2 := find_max_bool(abs_ser[i+2], abs_ser[i+3], abs_ser[i+4])
            if max2 == true
                if (abs_ser[i+3] - abs_ser[1]) > 0.1
                    diver_found := true
                    max2_pos := i+3
                    break
                // else case
                max2 := false
        
    allpositive = true
    if diver_found == true
        for j = 2 to max2_pos
            if abs_ser[j] < 0
                allpositive := false
                break

    res = diver_found == true and allpositive == true
    res

//@version=2
var_macd(tframe) =>
    source = close

    fastLength = input(12, minval=1)
    slowLength=input(26,minval=1)
    signalLength=input(9,minval=1)

    fastMA = sma(source, fastLength)
    slowMA = sma(source, slowLength)

    macd = fastMA - slowMA
    signal = sma(macd, signalLength)
    hist = macd - signal

    outMacD = security(tickerid, tframe, macd)
    outSignal = security(tickerid, tframe, signal)
    outHist = security(tickerid, tframe, hist)

    [outMacD, outSignal, outHist]


[m30, s30, h30] = var_macd("30")
//plot(s60, color=red, title="SIGNAL")
plot(m30, color=#0060ff, title="MACD")
is_diver30 = find_diver(m30, 30)
plot(is_diver30, color=green)
plotshape(is_diver30, color=lime, style=shape.arrowup, text="Diver!")

[m240, s240, h240] = var_macd("240")
//plot(s240, color=red, title="SIGNAL")
plot(m240, color=#0020ff, title="MACD")
is_diver240 = find_diver(m240, 200)
plot(is_diver240, color=green)