This indicator plots the Schaff Trend Cycle in a separate pane. It subtracts a slow exponential moving average from a fast one, applies a stochastic cycle twice, and smooths each result to form a 0–100 oscillator. Line color follows the slope, or the upper and
Indicator · Pine Script v4 · Own pane
MACD Breakout
Calculates multi-timeframe Moving Average Convergence Divergence (MACD) alongside a Money Flow filter to identify potential market breakouts.
Repaints
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code490
Settings15inputs
LicenceNone stated
Last update2 years ago12 May 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
MACD Breakout evaluates higher-timeframe MACD calculations using exponential or simple moving averages combined with Money Flow oscillator overbought and oversold levels for signal filtering. Inputs allow customization of higher-timeframe resolutions, moving average types, Money Flow thresholds, and stop loss or take profit risk-reward parameters. The indicator renders directly on the price chart.
- Higher timeframe MACD calculation
- Money Flow overbought and oversold filter
- Configurable EMA and SMA average types
- Risk-reward ratio calculation helper
Details
Published by
jerryinyang on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Trend, Oscillators & momentum, Moving averages, Breakout
Markets
Any symbol
Timeframes
M15-H1, H4 and above
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| MACD TimeFrame | timeframe | 120 | htfRes |
| MACD Fast MA | int | 8 | macdflen |
| macd Slow MA | int | 17 | macdslen |
| MACD signal Line | int | 9 | siglen |
| MACD Moving Average Type | string | EMA | maType |
| Use Filter | bool | true | useFilt |
| Use Macd Zero Line Filter | bool | true | useMacdFilt |
| MF Overbought | int | 80 | mfOb |
| MF Oversold | int | 20 | mfOs |
| ATR Multiplier | float | 1 | slAtrMult |
| Reward-Risk Ratio | float | 1.5 | tpRRR |
| Take Reverse Entries? | bool | false | useRev |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Reward-Risk Ratio For Reverse Positions | float | 1 | revRRR |
| Add ATR Buffer for Reverse Positions? | bool | true | useRevAtr |
| LTD MACD TimeFrame | timeframe | 240 | ltdHtfRes |
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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