vkno422

MACD 4C

4 Coloured MACD
lime = positive rising
green = positive descending
red = positive rising
maroon = positive descending
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study(shorttitle = "MACD 4C", title = "4 colour MACD")
fastMA = input(title="Fast moving average", type = integer, defval = 12, minval = 7)
slowMA = input(title="Slow moving average", type = integer, defval = 26, minval = 7)
lastColor = yellow
[currMacd,_,_] = macd(close[0], fastMA, slowMA, 9)
[prevMacd,_,_] = macd(close[1], fastMA, slowMA, 9)
plotColor = currMacd > 0 
    ? currMacd > prevMacd ? lime : green 
    : currMacd < prevMacd ? maroon : red
plot(currMacd, style = histogram, color = plotColor, linewidth = 3)
plot(0, title = "Zero line", linewidth = 1, color = gray)

Comments

Thanks,
Alternatively, Click on indicators and type MACD 4C, it will pop up and Click on it, and done you have it on your chart.
+11 Reply
mashiledr TheFXtradingToolz
@TheFXtradingToolz, im failing to get macd 4c
+7 Reply
How do I get this indicator in my MT4 platform ?
+9 Reply
vkno422 Joe_555
@Joe_555, There are different MACD's available for MT4.
This is specifically written for TradingView and uses their scripting language (PineScript).
So this specific version is not available for MT4.
Reply
Joe_555 vkno422
@vkno422, I manage to download Histogram MACD indicator for MT4 and the settings are 12, 26,9 (similar to your settings) , but it look very different from how it appears in TradingView. Any reason why? or is there any setting that I got it wrong, appreciate your feedback
Reply
vkno422 Joe_555
@Joe_555, Most likely it is that I am showing the MACD as histogram. Most MACD's show the MACD as a line.
Reply
Why does the MACD differs from standard MACD (try with the one by default) ?

I don't get it by looking the code.
+7 Reply
I cant tell either.
Reply
Kantardziski Kantardziski
Well actually, it is something to do with the portion of script changing the colors of macd... Take that out and it performs normally.
Reply
Kantardziski Kantardziski
As a prudent person, it is difficult to think nearly 1000 likes and this has slipped by ever user... in other words, its certainly possible I am missing something.
Reply
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