This indicator calculates custom moving average convergence divergence values using selectable calculation methods, fast and slow lengths, source prices, and signal smoothing types.
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-X Overlay, More Than MACD plots an oscillator on the price chart with customizable vertical placement and display length, along with optional signal crossovers and area highlights. It also incorporates multiple external libraries for trend analysis, zigzag calculations, and pattern detection. Note that the script is flagged for repainting.
Customizable MACD calculation methods
Adjustable moving average types for oscillator and signal
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
MACD Calculation Method
string
MACD-SOURCE
macdType
Fast Length
int
12
fast_length
Slow Length
int
26
slow_length
Source
source
close
source
Signal Smoothing
int
9
signal_length
Oscillator MA Type
string
EMA
sma_source
Signal Line MA Type
string
EMA
sma_signal
Display MACD/Signal Corsses
bool
false
macdSigCross
Highlight MACD/Signal Area
bool
false
highlight
Overlay Indicator Display Length
int
200
lookbackLength
Placement
string
Bottom
oscPlacement
Hight
int
7
Hight
Show all 40 settings
Setting
Type
Default
Variable
Vertical Indicator Position
int
3
verticalAdj
Trend Length
int
10
length
Set Targets
int
0
target
Trend Length
int
100
ftclength
Channel Width
float
3
multi
Index of future price
int
50
extend
Up
color
#16d897
color_up
Dn
color
#da853f
color_dn
openSource
source
open
openSource
highSource
source
high
highSource
lowSource
source
low
lowSource
closeSource
source
close
closeSource
useZigzag1
bool
true
useZigzag1
zigzagLength1
int
8
zigzagLength1
depth1
int
55
depth1
useZigzag2
bool
false
useZigzag2
zigzagLength2
int
13
zigzagLength2
depth2
int
34
depth2
useZigzag3
bool
false
useZigzag3
zigzagLength3
int
21
zigzagLength3
depth3
int
21
depth3
useZigzag4
bool
false
useZigzag4
zigzagLength4
int
34
zigzagLength4
depth4
int
13
depth4
Number of Pivots
int
5
numberOfPivots
Error Threshold
float
20.0
errorThresold
Flat Threshold
float
20.0
flatThreshold
Last Pivot Direction
string
both
lastPivotDirection
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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