by 
The Derivative Oscillator calculates a double-exponentially smoothed Relative Strength Index (RSI) and subtracts its Simple Moving Average (SMA) to form the main oscillator line. A secondary signal line is plotted using an SMA of the main oscillator values. Th
Indicator · Pine Script v5 · Own pane
HMD MACD
HMD MACD plots a moving-average convergence divergence oscillator in a separate pane.
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code49
Settings12inputs
LicenceNone stated
Last update2 years ago13 Sep 2024
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 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
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
HMD MACD subtracts a slow moving average from a fast moving average of the chosen source, then smooths that difference into a signal line. Users can select SMA or EMA for both lines and set lengths, source, and colors. A histogram shows the gap between the MACD and signal lines and changes color as it rises or falls above or below zero. Green and red backgrounds mark zero-line crosses, and alerts fire on those crosses. It does not place trades.
- SMA or EMA oscillator and signal
- Histogram colored by rise and fall
- Zero-line cross backgrounds
- MACD zero-cross alerts
- Adjustable lengths, source, and colors
Details
Published by
Web3Degenerate on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages
Markets
Any symbol
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Fast Length | int | 12 | fast_length |
| Slow Length | int | 26 | slow_length |
| Source | source | close | src |
| Signal Smoothing | int | 9 | signal_length |
| Oscillator MA Type | string | EMA | sma_source |
| Signal Line MA Type | string | EMA | sma_signal |
| MACD Line | color | #2962FF | col_macd |
| Signal Line | color | #FF6D00 | col_signal |
| Above: Grow | color | #26A69A | col_grow_above |
| Fall | color | #B2DFDB | col_fall_above |
| Below: Grow | color | #FFCDD2 | col_grow_below |
| Fall | color | #FF5252 | col_fall_below |
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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