by 
The Derivative Oscillator calculates a double-exponentially smoothed Relative Strength Index (RSI) and subtracts its Simple Moving Average (SMA) to form the main oscillator line. A secondary signal line is plotted using an SMA of the main oscillator values. Th
Indicator · Pine Script v4 · Own pane
MACD
This indicator calculates and plots the Moving Average Convergence Divergence (MACD) line, signal line, and a four-color histogram in a separate chart pane.
GitHub stars33on the repository
Pine versionv4older, still runs
Lines of code31
Settings7inputs
LicenceNone stated
Last update1 year ago25 Dec 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 computes the difference between fast and slow moving averages to determine momentum shifts. Users can adjust the fast length, slow length, signal smoothing period, and price source. Additionally, configuration toggles allow switching between simple moving averages (SMA) and exponential moving averages (EMA) for both the oscillator components and the signal line.
- Four-color histogram displaying growing and falling momentum
- Option to switch between EMA and SMA for oscillator calculation
- Option to switch between EMA and SMA for signal line smoothing
- Customizable fast, slow, and signal line lengths
Details
Published by
thanhnguyennguyen on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages
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.
Repository
Topics
tradingviewfreetradingbotlazyscriptsalerttraderstradingview-pine-scripts
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source | source | close | src |
| Fast Length | int | 12 | fast_length |
| Slow Length | int | 26 | slow_length |
| Source | source | close | srcMACD |
| Signal Smoothing | int | 9 | signal_length |
| Simple MA(Oscillator) | bool | false | sma_source |
| Simple MA(Signal Line) | bool | false | sma_signal |
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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