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OPEN-SOURCE SCRIPT

MACD Moving Average Convergence/Divergence - Durbtrade

By Durbtrade
Updated
Durbtrade MACD - macd line changes color based on vertical direction. This makes it easier to see and discern movements and also helps the indicator to retain maximum functionality when taking up less chart real estate (also, having the color change really helps me see charts on small screens... such as when it's bright outside and I'm driving in my car and glancing at a chart on my phone... it helps having the info pop visually). A fill option is included to fill the space between the macd and signal lines, though I personally prefer to disable this function. Also, you get a zero line if you want it, and it doesn't extend past the current time, removing unnecessary info and keeping your chart looking a bit cleaner. Finally, there are color-coded, cross-over and cross-under background fills, signaling when the macd line crosses the signal line.

This is my 2nd published script, and 2nd script ever. If you like this style, see my 1st published script: Durbtrade Bollinger Bands Width.

Hope you find this useful.

Feel free to comment.
Release Notes
Minor change.
Release Notes
Minor change.
Release Notes
Minor change.
Release Notes
Added a fill option to fill the space between the MACD/signal line and the zero line. The fill color and opacity can be customized depending on whether the fill is above or below the zero line. Of note, careful consideration was made to ensure that this fill does not overlap with the fill between the MACD line and the signal line, and also, that it is plotted behind the histogram, in order to maintain maximum clarity.
Centered OscillatorscrosscrossovercrossunderdurbtradeMoving Average Convergence / Divergence (MACD)macdcrossmacdsignalMoving Averagesmovingaverageconvergencedivergencezero

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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