This indicator calculates a modified MACD oscillator and signal line alongside a trend EMA filter, plotting the output as a stylized column histogram in a separate pane. Instead of plotting true MACD distance, it quantifies positive and negative histogram mome
Indicator · Pine Script v4 · Own pane
MACD x RSI Study
This indicator combines MACD and RSI to generate pullback signals on forex pairs.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code139
Settings15inputs
LicenceNone stated
Last update2 years ago12 May 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 x RSI Study plots MACD line, signal line and histogram alongside RSI and Wave Trend oscillator. Higher-timeframe MACD provides trend bias while RSI identifies overbought and oversold zones. Wave Trend confirms entries when crossing in the same direction as MACD x RSI. Main settings adjust MACD lengths, RSI levels and Wave Trend parameters. Signals trigger on pullback breaks of recent highs or lows with trend alignment. Plots appear in separate panes below the chart.
- MACD x RSI
- HTF MACD
- RSI Pullback
- Wave Trend Confirmation
- Trend Direction Filter
Details
Published by
jerryinyang on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Markets
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| MACD Source | source | close | macdSrc |
| MACD Fast Length | int | 12 | macdflen |
| MACD Slow Length | int | 26 | macdslen |
| MACD Signal Line | int | 9 | siglen |
| HTF MACD TimeFrame | timeframe | 240 | htfMacdRes |
| RSI Source | source | close | rsiSrc |
| RSI Length | int | 14 | rsiLen |
| RSI Timeframe | timeframe | 120 | rsiRes |
| RSI Overbought | int | 60 | rsiOb |
| RSI Oversold | int | 40 | rsiOs |
| Channel Length | int | 10 | wtChannelLen |
| Average Length | int | 21 | wtAvgLen |
Show all 15 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| WT Overbought | int | 50 | wtOb |
| WT Oversold | int | -50 | wtOs |
| Use Wave Trend Overbought/Oversold Levels | bool | true | wtUseObOs |
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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