This indicator computes a scaled Price Percentage Oscillator divergence between fast and slow lookback periods applied to a minimax-transformed stepline of price data. It generates a weighted divergence line using WMA and EMA smoothing, then plots a scaled ver
Indicator · Pine Script v5 · Own pane
MTF + MACD [Alorse]
This separate-pane indicator plots a MACD line, a signal line, and a histogram whose colors show whether the histogram is rising or falling above or below zero.
GitHub stars330on the repository
Pine versionv5runs as is
Lines of code114
Settings26inputs
LicenceNone stated
Last update2 months ago25 Aug 2026
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
The oscillator and signal can each use an SMA or an EMA, and an optional marker highlights MACD and signal crosses. Pivot lookbacks scan the MACD for regular and hidden bullish and bearish divergences, each with its own plot toggle and a minimum-to-maximum bar range. Inputs also set two moving-average periods and higher timeframes for a multi-timeframe EMA component. It does not enter, exit, or size positions.
- Four-color MACD histogram
- SMA or EMA oscillator and signal
- Regular and hidden MACD divergences
- Optional MACD and signal cross markers
- Two multi-timeframe EMA period and resolution inputs
Details
Published by
Alorse on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Divergence, 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.
Topics
pinescriptpinescript-indicatorspinescript-strategiestrading-strategiestradingviewtradingview-alerttradingview-strategy
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Version | string | txtVer | version |
| Source | source | close | src |
| Length Fast | int | 12 | fast_length |
| Slow | int | 26 | slow_length |
| Signal Smoothing | int | 9 | signal_length |
| Oscillator | string | EMA | sma_source |
| Signal Line | string | EMA | sma_signal |
| MACD Line | color | #2962FF | col_macd |
| Signal Line | color | #FF6D00 | col_signal |
| Show Signals&MACD Cross | bool | true | showCross |
| Above Grow | color | #00796b | col_grow_above |
| Fall | color | #26a69a | col_fall_above |
Show all 26 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Below Grow | color | #ef5350 | col_grow_below |
| Fall | color | #b71c1c | col_fall_below |
| Pivot Lookback Right | int | 2 | lbR |
| Left | int | 2 | lbL |
| Lookback Range Max | int | 60 | rangeUpper |
| Min | int | 6 | rangeLower |
| Plot Bullish | bool | true | plotBull |
| Plot Hidden Bullish | bool | false | plotHiddenBull |
| Plot Bearish | bool | true | plotBear |
| Plot Hidden Bearish | bool | false | plotHiddenBear |
| Periods | int | 50 | maA |
| Resolution | timeframe | 15 | resA |
| Periods | int | 50 | maB |
| Resolution | timeframe | 60 | resB |
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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