MACD Indicator (14,21): Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

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

23 lines of Pine Script v5 from Indicators/MACD.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

MACD.pine

//Run the below Script in PINE EDITOR or any platform supporting Pine Script

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © might-tree

//@version=5
indicator("MACD Indicator (14,21) : SoC 2023")

fast1 = 21
slow1 = 14
macd1 = ta.ema(close,fast1) - ta.ema(close,slow1)

fast2 = 90
slow2 = 41
macd2 = ta.ema(close,fast2) - ta.ema(close,slow2)

fast3 = 200
slow3 = 90
macd3 = ta.ema(close,fast3) - ta.ema(close,slow3)

plot(macd1, color=color.blue)
plot(macd2, color=color.red)
plot(macd3, color=color.green)

Overview

The first line subtracts the 14-period EMA from the 21-period EMA, the second subtracts the 41-period EMA from the 90-period EMA, and the third subtracts the 90-period EMA from the 200-period EMA. All lines are drawn in a separate pane with blue, red, and green colors. No trading signals, entry or exit rules, stop loss, or take profit are defined. The indicator serves as a basic momentum tool for technical analysis with no adjustable inputs.

MACD lines
exponential moving averages
multiple period combinations
color-coded plots
separate pane indicator

Details

Published by

might-tree on GitHub

Type

Indicator, Pine Script v5

Draws

Separate pane below the chart

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.

File

Indicators/MACD.pine

Repository

github.com/might-tree/SoC-Developing-Trading-Strategy-with-Pine-Script. See its other scripts in the library

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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