Indicator · Pine Script v5 · Own pane

Koncord + MACD

by Following-BTC

This indicator combines the Koncorde oscillator with a traditional Moving Average Convergence Divergence (MACD) indicator in a separate pane.

View on GitHub

GitHub stars5on the repository
Pine versionv5runs as is
Lines of code76
Settings11inputs
LicenceNone stated
Last update2 years ago9 Apr 2024

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
  4. 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

Koncord + MACD calculates Koncorde using a mixture of the Relative Strength Index (RSI), Money Flow Index (MFI), Bollinger Bands oscillator, Stochastic oscillator, Positive Volume Index (PVI), and Negative Volume Index (NVI). Concurrently, it computes a scaled MACD line, signal line, and histogram. Inputs allow users to adjust moving average lengths, toggles, scaling factors, and vertical gap offsets to display both scripts stacked neatly within a single sub-pane.

Details

Published by

Following-BTC on GitHub

Type

Indicator, Pine Script v5

Draws

Separate pane below the chart

Category

Oscillators & momentum, Volume, Volatility & bands, 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.

SettingTypeDefaultVariable
Koncordebooltrueshowkoncorde
KONCORDE - Gapint-50deltaKon
MADCbooltrueshowmacd
MACD - Gapint300deltaMacd
MACD - Scaleint17multMacd
MACD - Fast Lengthint12fast_length
MACD - Slow Lengthint26slow_length
MACD - Sourcesourceclosesrc
MACD - Signal Smoothingint9signal_length
MACD - Simple MA(Oscillator)boolfalsesma_source
MACD - Simple MA(Signal Line)boolfalsesma_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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