This indicator calculates a modified MACD oscillator and signal line alongside a trend EMA filter, plotting the output as a stylized column histogram in a separate pane. Instead of plotting true MACD distance, it quantifies positive and negative histogram mome
Indicator · Pine Script v5 · Own pane
Indicators
This basic script demonstrates how to calculate and plot a simple technical indicator in Pine Script.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code10
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago3 Oct 2024
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
10 lines of Pine Script v5 from 07. Indicators/01. Indicators Overview.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © cmoutafidis
//@version=5
indicator(title="Indicators")
// ta.* contains the indicators
ema = ta.ema(close, 14)
plot(ema)
Overview
Indicators computes a 14-period Exponential Moving Average (EMA) using the closing price of each bar and renders the line in a separate pane. Designed as an educational overview and starter template, it features hardcoded parameters that can be easily modified in the script editor for custom indicator development.
- 14-period Exponential Moving Average calculation
- Separate pane plot display
- Educational starter template for Pine Script v5
Details
Published by
fiji-solutions on GitHub
Code credit
cmoutafidis, as written in the script's header
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Moving averages, Trend
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.
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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