OPEN-SOURCE SCRIPT
Moving Average Crossover Histogram Indicator
Updated
A modified version of the MACD indicator. As its name suggests, this is a moving average crossover indicator but the difference in values between moving averages is represented by a histogram. It subtracts the value of a fast MA and slow MA then the result is represented in a histogram which makes it easier for you to identify and visualize every moving average crossover.
If you use moving average crossover as your buy/sell signal this indicator is for you.
You could use this indicator instead of using two moving averages on your main chart. Really convenient, easy to use, and make your chart clutter-free. You could set the fast and slow MA values also the moving average types according to your trading style.
Hope you like it. :)
If you use moving average crossover as your buy/sell signal this indicator is for you.
You could use this indicator instead of using two moving averages on your main chart. Really convenient, easy to use, and make your chart clutter-free. You could set the fast and slow MA values also the moving average types according to your trading style.
Hope you like it. :)
Release Notes
Added and edited some line of code so that both of the moving average mode can be changed independently.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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Disclaimer
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