SMACD — Indicator by takuo_takuo

Moving Average Convergence / Divergence (MACD) slope

macd slope

Graphs slope of ohlc4 MACD

When it =0, trend change

play with slow&fast lengths as well as the length used to calculate the slope.

-in progress(?)

Vertical lines in the image are as close as I could get them to SMACD=0.

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

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Want to use this script on a chart?

study(title="Slope(MACD(ohlc4))", shorttitle="SMACD")
source = ohlc4
fastLength = input(13, minval=1), slowLength=input(5,minval=1)
fastMA = ema(source, fastLength)
slowMA = ema(source, slowLength)
macd = fastMA - slowMA
//plot(macd, color=blue)
source2 = macd
length = input(1,minval=1)
offset = input(0)
roc = (source2 - source2[length])/source2[length]
plot(roc, color=red, title="MACDROC", offset=offset)
hline(0, title="Zero Line")