AK MACD BB INDICATOR V 1.00 by Algokid

Moving Average Convergence / Divergence (MACD) Bollinger Bands (BB)

Here's my version of the MACD _BB . This is a great indicator to capture short term trends.

yellow candles = long
aqua candles = short

This indicator can be much better. I will work on it and publish an improved version (hopefully) soon. In the mean time , go ahead and play around with the code, and please share your findings :)

Cheers

Algo

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 a publication is governed by House Rules. You can favorite it to use it 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.

Want to use this script on a chart?

//AK MACD BB 
//created by Algokid , February 24,2015


study("AK MACD BB v 1.00")

length = input(10, minval=1, title="BB Periods")
dev = input(1, minval=0.0001, title="Deviations")

//MACD
fastLength = input(12, minval=1) 
slowLength=input(26,minval=1)
signalLength=input(9,minval=1)
fastMA = ema(close, fastLength)
slowMA = ema(close, slowLength)
macd = fastMA - slowMA

//BollingerBands

Std = stdev(macd, length)
Upper = (Std * dev + (sma(macd, length)))
Lower = ((sma(macd, length)) - (Std * dev))


Band1 = plot(Upper, color=gray, style=line, linewidth=2,title="Upper Band")
Band2 = plot(Lower, color=gray, style=line, linewidth=2,title="lower Band")
fill(Band1, Band2, color=blue, transp=75,title="Fill")

mc = macd >= Upper ? lime:red

// Indicator

plot(macd, color=mc, style =circles,linewidth = 3)
zeroline = 0 
plot(zeroline,color= orange,linewidth= 2,title="Zeroline")

//buy
barcolor(macd >Upper ? yellow:na)
//short
barcolor(macd <Lower ? aqua:na)

//needs improvments