This indicator calculates standard MACD line, signal line, and histogram values while evaluating swing high and swing low pivot points on price and MACD to detect divergence.
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
92 lines of Pine Script v5 from Tradingview/macd-divergence.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
MACD - Divergence compares recent pivot levels to identify higher highs, lower lows, and trend states. Plotted in a separate pane below the price chart, it includes customizable color settings for histogram growth and fall states. Because pivot highs and lows require a confirmation period based on the swing length setting, divergence signals are confirmed retroactively and will repaint past bars once a pivot is established.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
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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