OPEN-SOURCE SCRIPT
MACD_Tracer
Simple Script for a very fast MACD
Best used as an Indicator Overlay for studying detailed movement.
Indicator over Indicator
Using as a Indicator overlay. You must drag and drop an indicator over another indicator. After you have the visual of both indicators in one indicator box, you must go to CHART PROPERTIES and SCALE LEFT. This way both your indicators are scaled to same axis.
Analysis
Having both indicators allows me the ability to better detect what the indicator is specialized to do. In this case I have one indicator that has strength at detecting Momentum shifts and the other detects Divergences.
Best used as an Indicator Overlay for studying detailed movement.
Indicator over Indicator
Using as a Indicator overlay. You must drag and drop an indicator over another indicator. After you have the visual of both indicators in one indicator box, you must go to CHART PROPERTIES and SCALE LEFT. This way both your indicators are scaled to same axis.
Analysis
Having both indicators allows me the ability to better detect what the indicator is specialized to do. In this case I have one indicator that has strength at detecting Momentum shifts and the other detects Divergences.
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.
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.