TheTravel1ngTrader

The LMACD on Bitcoin's chart (Logarithmic MACD)

Education
BINANCE:BTCUSDT   Bitcoin / TetherUS
The LMACD indicator looks to be even more reliable on Bitcoin's logarithmic 1D chart. You can copy the script of the indicator here:

//@version=3
study(title="Logarithmic Moving Average Convergence Divergence", shorttitle="LMACD")

// Getting inputs
fast_length = input(title="Fast Length", type=integer, defval=12)
slow_length = input(title="Slow Length", type=integer, defval=26)
src = input(title="Source", type=source, defval=close)
signal_length = input(title="Signal Smoothing", type=integer, minval = 1, maxval = 50, defval = 9)
sma_source = input(title="Simple MA(Oscillator)", type=bool, defval=false)
sma_signal = input(title="Simple MA(Signal Line)", type=bool, defval=false)

// Plot colors
col_grow_above = #26A69A
col_grow_below = #FFCDD2
col_fall_above = #B2DFDB
col_fall_below = #EF5350
col_macd = #0094ff
col_signal = #ff6a00

// Calculating
fast_ma = sma_source ? sma ( src , fast_length) : ema ( src , fast_length)
slow_ma = sma_source ? sma ( src , slow_length) : ema ( src , slow_length)
lmacd = log(fast_ma) - log(slow_ma)
signal = sma_signal ? sma (lmacd, signal_length) : ema (lmacd, signal_length)
hist = lmacd - signal

plot(hist, title="Histogram", style=columns, color=(hist>=0 ? (hist < hist ? col_grow_above : col_fall_above) : (hist < hist ? col_grow_below : col_fall_below) ), transp=0 )
plot(lmacd, title="LMACD", color=col_macd, transp=0)
plot(signal, title="Signal", color=col_signal, transp=0)
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