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VWAP filtered MACD

phk28  
Moving Average Convergence / Divergence (MACD) Trend Analysis Volume Weighted Average Price (VWAP) trend trendfollowing trendtrading
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macd trendanalysis vwap trend trendfollowing trendtrading
Bars with positive MACD histogram value and closing above VWAP are colored, long positions should be taken in areas made of those bars.

Similarly, bars with negative MACD histogram value and closing below VWAP are also colored, short positions should be taken there.

This indicator by default should be a part of your trend following trading system.

In the setting you can change colors
Above grow: positive and rising MACD histogram value
Above fall: positive and falling MACD histogram value
Below fall: negative and falling MACD histogram value
Below grow: negative and rising MACD histogram value
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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