OPEN-SOURCE SCRIPT
Parsh_Momentum with MACD Flags
The "Momentum with MACD Flags" indicator combines momentum analysis and MACD to help identify trading opportunities. The momentum line shows the price change over a specified period, turning green when crossing above zero (bullish) and red when crossing below zero (bearish). It is plotted continuously with key levels at 0, 25, -25, 85, and -85 to indicate momentum strength. Labels showing "MACD+" or "MACD-" appear when the MACD line crosses above or below the signal line, providing confirmation of trend direction. This indicator is useful for swing traders looking for entry and exit signals
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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