QG3 Histogram — Indicator by Enkindel

qg3 enkindel chrismoody

Color coded Histogram based on moving average cross overs, shows positive and negative divergence very well.

Edited by Enkindel, original code by ChrisMoody, QG3 system by QuadG

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.

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Want to use this script on a chart?

// Modified version of Triple EMA created By User ChrisMoody Modified by Enkindel based on QG3 system by QuadG
study(title = "QG3 Histogram", shorttitle="QG3 Histogram")

src = close, len = input(3, minval=1, title="Fast EMA")
src2 = close, len2 = input(10, minval=1, title="Medium EMA")
src3 = close, len3 = input(20, minval=1, title="Slow MA")

emaFast = ema(src, len)
emaMedium = ema(src2, len2)
smaSlow = sma(src3, len3)

emaHistogram = emaFast-smaSlow
ma = sma(emaHistogram, 1)

plot_color = emaFast > emaMedium and emaMedium > smaSlow ? lime : emaFast < emaMedium and emaMedium < smaSlow ? red : yellow

plot(emaHistogram, title="EMA Histogram", style=histogram, linewidth=3, color = plot_color)
plot(ma, title="Outer Line", style=line, linewidth=4, color=black)
hline(0, title="O Line", linestyle=solid, linewidth=3, color=black)