OPEN-SOURCE SCRIPT
Macd with RSI Table
The "MACD + RSI" Indicator is a combined technical analysis tool that integrates the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) for better market insights.
Key Features:
1. MACD Analysis:
• Computes MACD using customizable moving averages (SMA or EMA) for both the oscillator and signal line.
• Plots the MACD line, signal line, and histogram, which visually indicate market momentum and potential trend reversals.
• Includes alert conditions to notify users of key histogram changes (rising to falling or vice versa).
2. RSI Monitoring:
• Displays the RSI value to assess market strength (above 50 for bullish, below 50 for bearish).
• Highlights overbought and oversold conditions.
3. Integrated Table:
• A dynamic table shows the current MACD histogram state (positive or negative) and RSI value at a glance.
• Color-coded for quick interpretation (green for bullish, red for bearish).
This indicator provides a comprehensive view of trend direction, momentum, and market strength, making it suitable for identifying trading opportunities and managing risks.
Key Features:
1. MACD Analysis:
• Computes MACD using customizable moving averages (SMA or EMA) for both the oscillator and signal line.
• Plots the MACD line, signal line, and histogram, which visually indicate market momentum and potential trend reversals.
• Includes alert conditions to notify users of key histogram changes (rising to falling or vice versa).
2. RSI Monitoring:
• Displays the RSI value to assess market strength (above 50 for bullish, below 50 for bearish).
• Highlights overbought and oversold conditions.
3. Integrated Table:
• A dynamic table shows the current MACD histogram state (positive or negative) and RSI value at a glance.
• Color-coded for quick interpretation (green for bullish, red for bearish).
This indicator provides a comprehensive view of trend direction, momentum, and market strength, making it suitable for identifying trading opportunities and managing risks.
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
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