MACD + Divergences [Alorse]: Free TradingView Strategy (Pine Script)

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 strategy, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.

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 + Divergences [Alorse] filters trade signals with dual Exponential Moving Averages (EMA 150 and 600) to ensure trades align with the macro trend. Position exits are managed using percentage-based or ATR-based stop losses along with profit targets. The script plots the MACD line, signal line, histogram, and divergence lines in a separate pane. Note that divergence lines rely on pivot lookback evaluation, causing historical signals to appear confirmed after a set bar delay.

MACD oscillator with custom EMA or SMA smoothing options
Automated pivot-based divergence detection
Dual EMA trend direction filters
ATR or percentage-based stop loss and take profit settings

Details

Published by

Alorse on GitHub

Type

Strategy, Pine Script v4

Draws

Separate pane below the chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)

File

strategies/MTF+MACD.pine

Repository

github.com/Alorse/pinescript-strategies. See its other scripts in the library

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
Version	`string`	`txtVer`	`version`
Source	`source`	`close`	`src`
Length Fast	`int`	`12`	`fast_length`
Slow	`int`	`26`	`slow_length`
Signal Smoothing	`int`	`9`	`signal_length`
Oscillator	`string`	`EMA`	`sma_source`
Signal Line	`string`	`EMA`	`sma_signal`
MACD Line	`color`	`#2962FF`	`col_macd`
Signal Line	`color`	`#FF6D00`	`col_signal`
Show Signals&MACD Cross	`bool`	`true`	`showCross`
Above Grow	`color`	`#00796b`	`col_grow_above`
Fall	`color`	`#26a69a`	`col_fall_above`

Show all 31 settings

Setting	Type	Default	Variable
Below Grow	`color`	`#ef5350`	`col_grow_below`
Fall	`color`	`#b71c1c`	`col_fall_below`
Don't touch the zero line?	`bool`	`true`	`donttouchzero`
Pivot Lookback Right	`int`	`2`	`lbR`
Pivot Lookback Left	`int`	`7`	`lbL`
Max of Lookback Range	`int`	`200`	`rangeUpper`
Min of Lookback Range	`int`	`10`	`rangeLower`
Plot Bullish	`bool`	`true`	`plotBull`
Plot Bearish	`bool`	`true`	`plotBear`
EMA 1	`int`	`150`	`maA`
EMA 2	`int`	`600`	`maB`
Bars back	`int`	`10`	`barsBack`
Take profit factor	`float`	`1.5`	`tpFactor`
╔══════ Enable ══════╗	`bool`	`true`	`useSL`
Based on	`string`	`Percent`	`SLbased`
ATR Mult	`float`	`7.0`	`multiATR`
Length	`int`	`14`	`lengthATR`
Percent	`float`	`7`	`SLPercent`
Show SL	`bool`	`true`	`plotSL`

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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