OPEN-SOURCE SCRIPT
MACD Crossover Trend Indicator

How this indicator works:
This indicator detects MACD Crossovers based on the current trend. It checks wether the current close price is above or below the 200 EMA and therefore decides whether we are in an up- or down trend.
UP-TREND: If the MACD is below 0 and crosses up the signal line, then this is a BUY signal!
DOWN-TREND: If the MACD is above 0 and crosses down the signal line, then this is a SELL signal!
How to trade this:
First rule: Be consistent!
Second rule: You will have lost trades and losing streaks - deal with it!
Important: Money management is key... so be consistent!
Have fun! :)
This indicator detects MACD Crossovers based on the current trend. It checks wether the current close price is above or below the 200 EMA and therefore decides whether we are in an up- or down trend.
UP-TREND: If the MACD is below 0 and crosses up the signal line, then this is a BUY signal!
DOWN-TREND: If the MACD is above 0 and crosses down the signal line, then this is a SELL signal!
How to trade this:
First rule: Be consistent!
Second rule: You will have lost trades and losing streaks - deal with it!
- First set the SL slightly below the last significant low (eventually add/subtract the ATR value to/from it)
- Then adjust the TP and ALWAYS use a RR ratio of 1.5.
- NEVER get out of the trade earlier
- Take every possible trade!
Important: Money management is key... so be consistent!
Have fun! :)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
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.