MACD with a Zero Line (baseline) — Indicator by TheHitman

Moving Average Convergence / Divergence (MACD)

macd

I added the baseline to the built-in MACD code. This helps me to see the current state of the Signal and the MACD Line, as I do not use the Histogram. It is meant as a visual aid only.

Maybe there is somebody out there that finds this helpful too.

Release Notes:

Short update to take advantage of the new ‘Resolution’ Parameter TradingView Released this afternoon.

This will make it easy to do Multi-Timeframe Analysis with the Indicator. Just use the new option on settings and change the timeframe the Indicator is calculated from.

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.

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.

Want to use this script on a chart?