PROTECTED SOURCE SCRIPT
[DEM] MACD Bars
[DEM] MACD Bars is designed to color price bars based on the relationship between the MACD line and its histogram to provide immediate visual feedback about momentum conditions and potential trend changes. The indicator calculates the standard MACD using the default parameters (12, 26, 9) and applies a three-color system to the candlesticks: green bars when the MACD line is above both the histogram and zero (indicating strong bullish momentum), red bars when the MACD line is below both the histogram and zero (indicating strong bearish momentum), and purple bars for all other conditions where momentum signals are mixed or transitional. This color-coding system helps traders quickly identify periods of strong directional momentum versus periods of uncertainty or potential reversal without needing to reference a separate MACD indicator pane.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.