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
Nasdaq
This indicator plots market breadth metrics for the Nasdaq exchange in a separate pane.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code22
Settings0inputs
LicenceAGPL-3.0
Last update5 years ago12 Feb 2021
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
22 lines of Pine Script v4 from nasdaq.pine, published under AGPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
study("NASDAQ")
zeroline = plot(0, color=#FFFFFF)
ma_interval = timeframe.isweekly ? 10 : 50
period = timeframe.isweekly ? "W" : "D"
nasd50 = sma(security("USI:ADDQ", period, close), ma_interval)
nasd50PlotValue = (dayofweek == dayofweek.monday) ? nasd50 :
(dayofweek == dayofweek.tuesday) ? nasd50 :
(dayofweek == dayofweek.wednesday) ? nasd50 :
(dayofweek == dayofweek.thursday) ? nasd50 :
(dayofweek == dayofweek.friday) ? nasd50 : na
plotColor = (nasd50PlotValue > 0) ? #008447 : #ef242e
nasd50curve = plot(series=nasd50PlotValue, title="NASDAQ50A/D", style=2, linewidth=2, color=#FFFFFF)
fill(nasd50curve, zeroline, plotColor, transp=50)
nasd_new_high = security("USI:YRHI.NQ", "D", close)
nasd_new_low = security("USI:YRLO.NQ", "D", close)
nasdPlotValue = (dayofweek == dayofweek.monday) ? nasd_new_high-nasd_new_low :
(dayofweek == dayofweek.tuesday) ? nasd_new_high-nasd_new_low :
(dayofweek == dayofweek.wednesday) ? nasd_new_high-nasd_new_low :
(dayofweek == dayofweek.thursday) ? nasd_new_high-nasd_new_low :
(dayofweek == dayofweek.friday) ? nasd_new_high-nasd_new_low : na
plot(nasdPlotValue, style=5, linewidth=1, color=#fddd13)
Overview
Nasdaq calculates a simple moving average of the Nasdaq Advance-Decline line, switching between a 10-period average on weekly charts and a 50-period average on daily charts, colored green above zero and red below zero. It also plots the daily difference between 52-week highs and 52-week lows as a separate histogram. The script has no user-configurable inputs, operates exclusively on weekdays, and references external market breadth ticker symbols.
- 52-week highs and lows net difference
- Adaptive 50-day and 10-week moving averages
- Nasdaq advance-decline moving average
- Zero line color-coded fill
Details
Published by
rosskevin on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Trend, Moving averages
Markets
Stocks, Indices
Timeframes
H4 and above
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
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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