Beep Boop: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.

Source Code

62 lines of Pine Script v4 from pine/beep-boop.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.

beep-boop.pine

//@version=4

study(title="Beep Boop", shorttitle="Beep Boop", resolution="")

src = input(title="Source", type=input.source, defval=close)

fast_length = input(title="Fast Length", type=input.integer, defval=12)
slow_length = input(title="Slow Length", type=input.integer, defval=26)
EMATrend = input(title="EMA Trend", type=input.integer, defval=50)
signal_length = input(title="Signal Smoothing", type=input.integer, minval = 1, maxval = 50, defval = 9)

sma_source = input(title="Simple MA(Oscillator)", type=input.bool, defval=false)
sma_signal = input(title="Simple MA(Signal Line)", type=input.bool, defval=false)

fast_ma = sma_source
  ? sma(src, fast_length)
  : ema(src, fast_length)

slow_ma = sma_source
  ? sma(src, slow_length)
  : ema(src, slow_length)

macd = fast_ma - slow_ma

signal = sma_signal
  ? sma(macd, signal_length)
  : ema(macd, signal_length)

hist = macd - signal

if (hist > 0)
    hist := 0.1
    
if (hist < 0)
    hist := 0.09
  
fastMA = ema(close, EMATrend)

plot(
  hist,
  title="Histogram",
  style=plot.style_columns,
  color=(
    hist == 0.1
    ? (
      (hist == 0.1)
      and (close > fastMA)
      and (open > fastMA)
      and (low > fastMA)
        ? col_grow_above
        : col_fall_above
    )
    : (
      (hist == 0.09)
      and (close < fastMA)
      and (open < fastMA)
      and (high < fastMA)
        ? col_grow_below
        : col_fall_below
    )
  ), transp=0 
)

Overview

Instead of plotting true MACD distance, it quantifies positive and negative histogram momentum into fixed height levels and colors the bars based on whether price action remains entirely above or below the trend moving average. Configurable inputs include the fast, slow, and signal smoothing lengths, choice of moving average types, and trend EMA length.

Customizable MACD and signal line lengths
Selectable simple or exponential moving averages
Trend EMA baseline filter
Quantized column histogram display

Details

Published by

magic8bot on GitHub

Type

Indicator, Pine Script v4

Draws

Separate pane below the chart

Markets

Crypto

Timeframes

Any timeframe

Risk Notes

No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.

File

pine/beep-boop.pine

Repository

github.com/magic8bot/magic8bot

Topics

cryptocurrencytrading-botnodejstypescriptbitcoin

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Source	`source`	`close`	`src`
Fast Length	`int`	`12`	`fast_length`
Slow Length	`int`	`26`	`slow_length`
EMA Trend	`int`	`50`	`EMATrend`
Signal Smoothing	`int`	`9`	`signal_length`
Simple MA(Oscillator)	`bool`	`false`	`sma_source`
Simple MA(Signal Line)	`bool`	`false`	`sma_signal`

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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