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
Indicator · Pine Script v5 · Own pane
Technical Analysis Namespace
This indicator calculates common technical analysis variables including RSI, Stochastic Oscillator, EMA moving average, ATR volatility, and MACD with signal and histogram.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code19
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago3 Oct 2024
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
19 lines of Pine Script v5 from 06. Functions & Variables/02. Technical Analysis Functions.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © cmoutafidis
//@version=5
indicator(title="Technical Analysis Namespace")
rsi = ta.rsi(close, 14)
stoch = ta.stoch(close, high, low, 14)
ma = ta.ema(close, 50)
atr = ta.atr(14)
[macd, signalLine, histLine] = ta.macd(close, 12, 26, 9)
// plot(rsi)
// plot(stoch, color = color.red)
// plot(ma, color = color.orange, force_overlay = true)
// plot(atr, color = color.new(color.green, 100), force_overlay = true)
plot(macd)
plot(signalLine, color = color.orange)
plot(histLine, color = histLine > 0 ? color.green : color.red, style = plot.style_histogram)
Overview
Technical Analysis Namespace plots the MACD line, signal line, and histogram in a separate pane. The script serves as a namespace providing these variables for technical analysis. It contains no entry or exit rules, stop loss, or position sizing as it is an indicator only.
- MACD indicator
- Stochastic oscillator
- EMA moving average
- ATR volatility
- RSI momentum
Details
Published by
fiji-solutions on GitHub
Code credit
cmoutafidis, as written in the script's header
Type
Draws
Separate pane below the chart
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.
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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