repo32

RN MACD Signals

This is my simple way to quickly see MACD signals without having the MACD taking up space. The one at the bottom is for display to show how this works. A crossover occurs when the arrow flips over. The position of the arrow tells you if it is currently above or below the zero line. You can change the script to overlay and have it show up above or below price also. Let me know what you think.
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.

Want to use this script on a chart?
//Created by Robert N. 031115
// This will place arrows on the bottom for your MACD
//Lime up is fast over slow and under 0 line - plots under
//Lime up is fast over slow and above 0 line - plots above
//Red down is fast under slow and above 0 line - plots above
//Red down is fast under slow and under 0 line - plots under

study(title="RN MACD signals")

fastLength = input(12, minval=1), slowLength=input(26,minval=1)
signalLength=input(9,minval=1)
fastMA = ema(close, fastLength)
slowMA = ema(close, slowLength)
macd = fastMA - slowMA
signal = sma(macd, signalLength)

plotshape(macd < 0 and macd < signal,  title= "DnBelow", location=location.bottom, color=red, style=shape.arrowdown)
plotshape(macd > 0 and macd < signal,  title= "DnAbove", location=location.top, color=red, style=shape.arrowdown)
plotshape(macd < 0 and macd > signal,  title= "UpBelow", location=location.bottom, color=lime, style=shape.arrowup)
plotshape(macd > 0 and macd > signal,  title= "UpAbove", location=location.top, color=lime, style=shape.arrowup)

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Comments

at first look,feel performance is guaranteed
+1 Reply
repo32 AnnaCrude
@AnnaCrude, I hope it works well for you.
Reply
@repo32, Normal MACD,You have made it look easy,instant recognition of signal cross and MACD zero line cross.Thanks.
Reply
AnnaCrude AnnaCrude
@repo32, have you used 12/26/9 or different settings in the pic showing MACD upper position crossover and lower position crossover
+2 Reply
repo32 AnnaCrude
@AnnaCrude, The pic is just 12/26/9. You can adjust settings to whatever you like. I have added multiple lines of this indicator with different settings.
Reply
@repo32, Ok.I want to thank you for inspiring me to make an EA
Reply
good work sir. Thanks
Reply
Absolutely the BEST idea, using RN MACD always !
Reply
repo32 View4U
@View4U, Thank you for the very nice compliment. Enjoy!
Reply
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