- Each Time Frame shows start of Trend and end of trend of the MACD vs the Signal Cross
- They are labled 1,2,3 with respective up or down triangle for possible direction.
- configure the indicator by specifying various inputs. These inputs include colors for bullish
and bearish conditions, the time frame to use, whether to show a Simple Moving Average
(SMA) line, and other parameters.
- Users can choose time frames for analysis (like 30 minutes, 1 hour, etc.)
but they must be in mintues.
- The code also allows users to customize how the indicator looks on the chart by providing
options for position and color.
- The script calculates the Simple Moving Average (SMA) based on the user-defined time
- It then determines the color of the plot (line) based on certain conditions, such as whether
the SMA is rising or falling. These conditions help users quickly identify market trends.
- The code creates labels that can be displayed on the chart.
These labels indicate whether there's a bullish or bearish signal.
- The script determines and labels key levels or points of interest in the chart based on
- It can show labels like "①" and "▲" for bullish conditions and "▼" for bearish conditions.
- There's an option to show a table on the chart that displays information about the MACD
indicator Chosen and the NUmber Bubble assocated with that time frame
- The table can include information like which time frame is being analyzed, whether the SMA
line is shown, and other relevant data.
Plotting on the Chart
- The script plots the Simple Moving Average (SMA) on the chart. The color of this line
changes based on the calculated trend conditions.
ATR (Average True Range)
- The script also plots the Average True Range (ATR) on the chart. ATR is used to measure
"In essence, this script is a highly customizable MACD and SMA indicator for traders. It assists traders in comprehending market trends, offering insights into different MACD cycles concerning various timeframes.
Users can configure it to match their trading strategies, and it presents information in a user-friendly manner with colors, labels, and tables.
This simplifies market analysis, allowing traders to make more informed decisions without the distraction of multiple indicators."
See @kiosefftradings MACD Optimizer to fine tune each MACD Setting
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.