OPEN-SOURCE SCRIPT
Updated S2BU2 MACD Growthpercentages
This indicator is a twist on the macd indicator. It shows the change in delta between signal- and macd-line as a contra-indicator wether or not the current trend as shown by the original macd indicator is actually gaining strength or not.
This indicator is part of a different work in progress and was published seperately as a proof of concept. You may use it in conjunction with the original macd.
strengthening bars in macd during weakening bars in MC% show the end (or plateau) of the actual trend.
weakening bars in macd with strenghening mars in MC% shows a momentum towards the downside quite a while bevor a crossover in macd actually happens.
Feel free to come to your own conclusions which relations determine what outcomes. If it is interesting feel free to share your findings with me :D
@PS-Mods: don't make it hard to contribute pls.
This indicator is part of a different work in progress and was published seperately as a proof of concept. You may use it in conjunction with the original macd.
strengthening bars in macd during weakening bars in MC% show the end (or plateau) of the actual trend.
weakening bars in macd with strenghening mars in MC% shows a momentum towards the downside quite a while bevor a crossover in macd actually happens.
Feel free to come to your own conclusions which relations determine what outcomes. If it is interesting feel free to share your findings with me :D
@PS-Mods: don't make it hard to contribute pls.
Release Notes
Styles and explicit variable declaration
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 publications is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.