MACD + Divergences [Alorse] is a momentum strategy that calculates the MACD oscillator and identifies regular and hidden divergences using pivot high and low points. It filters trade signals with dual Exponential Moving Averages (EMA 150 and 600) to ensure tra
Strategy · Pine Script v4 · Own pane
AO
This strategy plots an Awesome Oscillator-style histogram in a separate pane.
GitHub stars4on the repository
Pine versionv4older, still runs
Lines of code17
Settings2inputs
LicenceNone stated
Last update5 years ago4 Jul 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
AO subtracts a longer simple moving average of the bar midpoint from a shorter one and colors bars by whether the value is rising or falling. It opens a fixed-size long position when the oscillator crosses above zero and a short when it crosses below zero, closing the opposite position on the reverse cross. The two moving-average lengths are the main settings. There is no stop loss, take profit, or other exit rule.
- Histogram of short minus long SMA of hl2
- Zero-line crossover entries
- Opposite-cross position closes
- Fixed order quantity of 1000
- Adjustable 5 and 34 period lengths
Details
Published by
Joshua-Chang on GitHub
Type
Strategy, Pine Script v4
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
File
Topics
tradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| lengthAO1 | int | 5 | lengthAO1 |
| lengthAO2 | int | 34 | lengthAO2 |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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