Introducing a new indicator for the TradingView community based on the MACD indicator! This innovative tool goes beyond traditional MACD signals by analyzing positive and negative waves to determine the average height of the waves to filter false cross-over or cross-under signals during the sideways market. There are two types of waves created by the MACD line, one is a positive wave above the "zero" line and another is a negative wave below "zero" line. Each wave has peaks. This indicator will find the average height of the positive waves' peaks and plot as a green line(by default). Vice-versa it will also find the average height of the negative waves' peaks and plot as a red line(by default). Example : This indicator will show labels when the MACD line crosses-under the MACD signal line above the average height of the positive waves. Vice-versa, the indicator will show labels when the MACD line crosses-above the MACD signal line below the average height of the negative waves. Example: Alerts are also available for these types of cross-over and cross-under.
Sir I noticed error 😕 Actual macd and your indicator have difference value
popsegalmi18192
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mate, you are smart. Seeing things much deeper. I have taken this and added to a chart to filter out weak signals from your "Reversal" indicator. I guess we can also add volatility indicator for additional quality of the entries.
shakeyshik
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This is so accurate on Nasdaq 100 - 1 minute.
Mork37
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just found this and this is great work. Do you have any recommended settings for gold/USD on the 1M time frame? Thank you
jspagnuolo
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Hello Hasan great indicator. Is there any way to change the timeframe. Ive tried modifying the script but it prompts an error...thanks
Pratik_4Clover
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Thanks!
uncle_tony
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using this indicator, i can complete my logic thx a lot
aggarwalg04
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Sir also add divergence indicator and adx for Trending market Check macd plus indicator by Oskar
HasanRifat
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@aggarwalg04, I will keep these in mind for future updates. Thank you.
Actual macd and your indicator have difference value