MACD Background Color Only (MTF)

📊 MACD Background Color Only (MTF)

A clean, minimalistic Multi-Timeframe MACD visualization tool that colors the chart background based on MACD strength and position relative to the signal line and zero line.

This script removes traditional MACD plots and focuses purely on market bias visualization, helping traders quickly identify momentum direction without clutter.

🔎 How It Works

The indicator calculates MACD from a selectable higher timeframe and projects the momentum condition onto your current chart timeframe.

You can run:

1H MACD on a 5-minute chart

4H MACD on a 15-minute chart

Daily MACD on intraday charts

Or any custom timeframe

🎨 Background Color Logic

🟢 Dark Green
MACD > Signal AND MACD > 0
→ Strong bullish momentum (trend continuation zone)

🟩 Light Green
MACD < Signal BUT MACD > 0
→ Bullish pullback within uptrend

🟡 Yellow
MACD > Signal BUT MACD < 0
→ Early bullish reversal zone

🔴 Red
MACD < Signal AND MACD < 0
→ Strong bearish momentum (trend continuation zone)

🎯 Why Use This Script?

Removes MACD panel clutter

Helps align lower timeframe entries with higher timeframe momentum

Ideal for scalpers, intraday traders, and swing traders

Makes trend bias visible instantly

This tool works especially well when combined with:

Price action

Breakout strategies

CPR or pivot levels

EMA trend filters

⚙️ Inputs

Fast Length

Slow Length

Signal Length

MACD Timeframe (MTF selection)

💡 Best Practice

For high-probability trades:

Take long trades when background is Dark Green

Avoid longs when background is Red

Use Yellow as potential reversal watch zone

Use Light Green for pullback entries in bullish trends