MultiIndicator combines multiple technical indicators into a single separate pane to save chart space. It calculates and displays market regime detection based on ordinary least squares regression, a Holt exponential smoothing crossover, normalized RSI, ADX, a
Indicator · Pine Script v5 · Own pane
MACD-V
MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou.
GitHub stars219on the repository
Pine versionv5runs as is
Lines of code35
Settings7inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago8 May 2025
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
35 lines of Pine Script v5 from MACD-V.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// @ Paper by Alex Spiroglou
// © Coded by Harry Gui
//@version=5
indicator("MACD-V", overlay=false)
// Input parameters
fastLength = input(12, title="Fast EMA Length")
slowLength = input(26, title="Slow EMA Length")
signalLength = input(9, title="Signal Length")
atrLength = input(26, title="ATR Length")
overbought = input(40, title="Overbought")
oversold = input(-40, title="Oversold")
// Calculate ATR
atr = ta.atr(atrLength)
[macdLine, signalLine, histLine] = ta.macd(close, fastLength, slowLength, signalLength)
// plot(macdLine/atr, color=color.blue)
// plot(signalLine/atr, color=color.orange)
macdv = histLine/atr*100
plot(macdv, title = "Histogram", style = plot.style_columns, color = (macdv >= 0 ? (macdv[1] < macdv ? #26A69A : #B2DFDB) : (macdv[1] < macdv ? #FFCDD2 : #FF5252)))
hline(0, title = "0.0")
hline(overbought, title = "Overbought")
hline(oversold, title = "Oversold")
plotshape(macdv < oversold ? macdv * 1.1 : na, "MACD-V Oversold", shape.circle, location = location.absolute, color = color.new(color.fuchsia, 0))
plotshape(macdv > overbought ? macdv * 1.1 : na, "MACD-V Overbought", shape.circle, location = location.absolute, color = color.new(color.fuchsia, 0))
// Highlight chart background between specific hours
display_hours_highlight = input(false, "Display background colours for specific hours")
t1 = time(timeframe.period, "1000-1300,1600-2000,2400-0700:23456", "Europe/London")
bgcolor(not na(t1) ? color.new(color.silver, 90) : na, display = display_hours_highlight? display.all: display.none)
Overview
MACD-V calculates the standard MACD histogram and normalizes it by dividing by the Average True Range (ATR). Plotted in a separate pane as a colored histogram, it includes user-defined overbought and oversold reference lines. Fuchsia circle shapes mark when momentum crosses extreme volatility threshold levels. It also includes an optional background highlight for specific London trading sessions.
- Volatility-normalized MACD histogram calculation
- Customizable overbought and oversold thresholds
- Visual shape markers for extreme momentum levels
- Optional background session time highlighting
Details
Published by
harryguiacorn on GitHub
Code credit
Coded by Harry Gui, as written in the script's header
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volatility & bands, 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.
File
Repository
Topics
bollingerbollinger-bandbollinger-bandsichimokuichimoku-cloudichimoku-indicatorpinepinescriptpinescript-guidespinescript-indicators
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Fast EMA Length | int | 12 | fastLength |
| Slow EMA Length | int | 26 | slowLength |
| Signal Length | int | 9 | signalLength |
| ATR Length | int | 26 | atrLength |
| Overbought | int | 40 | overbought |
| Oversold | int | -40 | oversold |
| Display background colours for specific hours | bool | false | display_hours_highlight |
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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