OPEN-SOURCE SCRIPT
MACD 1D Slow + 4H by mattzab
1D MACD, with slightly slower values for a little less noise.
Instead of the 12, 26, 9, this shows the 13, 34, 9.
Instead of showing a histogram, it uses area and color-codes the area blue and red based on directional movement.
Overlaid is a black histogram line showing the 4H MACD, produced by values of 6, 13, 5.
Instead of the 12, 26, 9, this shows the 13, 34, 9.
Instead of showing a histogram, it uses area and color-codes the area blue and red based on directional movement.
Overlaid is a black histogram line showing the 4H MACD, produced by values of 6, 13, 5.
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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