MACD Split Colors — Indicator by blackdog6621

Moving Average Convergence / Divergence (MACD)

macd

Standard MACD modified to show the histogram in different colors for positive/negative.

Ignore all the extra stuff in the chart, I didn't realize at this point I couldn't change it later!

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?

study(title="MACD Split Colors", shorttitle="MACD")
src = close
fastLength = input(12, minval=1), slowLength=input(26,minval=1)
signalLength=input(9,minval=1)
fastMA = ema(src, fastLength)
slowMA = ema(src, slowLength)
macd = fastMA - slowMA
signal = sma(macd, signalLength)
hist = macd - signal
pos_hist = max(0, hist)
neg_hist = min(0, hist)
plot(pos_hist, color=green, style=histogram, linewidth=2)
plot(neg_hist, color=red, style=histogram, linewidth=2)
plot(macd, color=teal)
plot(signal, color=orange)