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 x RSI Study
This indicator calculates a multi-timeframe MACD, higher-timeframe RSI, and WaveTrend oscillator to generate trading signals.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code132
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 triggers long entry shapes when higher-timeframe MACD momentum aligns with oversold RSI readings, and short entry shapes during overbought conditions. User inputs control MACD lengths, timeframe resolutions for MACD and RSI, and WaveTrend channel thresholds. Plots display directly on the price chart using shape overlays. As an incomplete indicator study, it lacks built-in exit conditions, stop loss mechanisms, and automated execution.
- Higher-timeframe MACD momentum calculation
- Multi-timeframe RSI with overbought and oversold levels
- WaveTrend oscillator with customizable channel lengths
- Confluence entry signals with chart shape plots
Details
Published by
jerryinyang 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.
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.
Similar Pine Scripts
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
This indicator calculates and plots the standard Moving Average Convergence Divergence oscillator in a separate pane. It computes the difference between a fast and slow moving average, derives a signal line through smoothing, and plots a histogram representing
MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou. It 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 us
Multi-Timeframe Analysis Suite calculates trend direction and momentum conditions across five user-selected timeframes using moving averages, RSI, and Stochastic oscillators. It evaluates moving average slope and oscillator levels to compute trend alignment, m
KamaFama is an indicator that translates a Freqtrade trading strategy into Pine Script for visualization. It combines Kaufman Adaptive Moving Average (KAMA), MAMA/FAMA calculations derived via Hilbert Transform, Williams %R, and correlation trend filters to ev
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers