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 v4 · Own pane
MACD
This indicator calculates and plots the standard Moving Average Convergence Divergence oscillator in a separate pane.
GitHub stars330on the repository
Pine versionv4older, still runs
Lines of code29
Settings12inputs
LicenceNone stated
Last update2 months ago25 Aug 2026
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
MACD computes the difference between a fast and slow moving average, derives a signal line through smoothing, and plots a histogram representing the difference between the MACD and signal line. Users can independently choose between Simple Moving Average and Exponential Moving Average calculations for both the oscillator and signal line, alongside customizable smoothing lengths and histogram color themes.
- Configurable fast, slow, and signal smoothing lengths
- Selectable SMA or EMA for oscillator and signal calculations
- Four-color histogram representing momentum direction
- Plots MACD line, signal line, and histogram in a separate pane
Details
Published by
Alorse on GitHub
Type
Indicator, Pine Script v4
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.
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
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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