MACD shows the MACD line, a signal line that can use EMA or SMA smoothing, and a histogram colored in four shades for rising and falling momentum above or below zero. Optional markers show MACD and signal crosses, zero line crosses, and a simple divergence check against recent highs and lows. Source and all lengths are adjustable.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Source
source
close
macdsrc
Fast Length
int
12
macdfastlen
Slow Length
int
26
macdslowlen
Signal Smoothing
int
9
macdsignallen
Signal Line Type
string
EMA
sigType
Show MACD/Signal Cross
bool
true
i_showCross
Show Zero-Line Cross
bool
true
i_showZeroCross
Show Divergence Signals
bool
false
i_showDivergence
Divergence Lookback
int
5
i_divLookback
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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