chentz Volume MACD — Indicator by chentz

Moving Average Convergence / Divergence (MACD) Volume Indicator

macd volume

A MACD indicator over the volume to see pattern over the volume.

Adaptation of script from

and using the theoretical foundation 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

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Want to use this script on a chart?

study(title="chentz Volume MACD", shorttitle="VMACD", precision=3)

src = volume

fastLength = input(12, minval=1)
slowLength=input(26,minval=1)
signalLength=input(9,minval=1)

maxLine=input(title="Max. Line", type=float, defval=0.3)
minLine=input(title="Min. Line", type=float, defval=-0.3)
pThr=input(title="% Threshold Line", type=float, defval=0.35)
midLine=(maxLine+minLine)/2

fastMA = ema(src, fastLength)
slowMA = ema(src, slowLength)
macd = fastMA - slowMA

signal = ema(macd, signalLength)
hist = macd - signal
emaHist = ema(hist, fastLength/2)

plot(macd, color=blue)
plot(signal, color=orange)
plot(hist, color=red, style=histogram)
plot(emaHist, color=red, style=area, transp=80)

//MACD CV
sigCV = stdev(macd,fastLength/2)
plot(sigCV,style=cross,color=gray,transp=90)


hline(maxLine, title="Max Line", linestyle=dashed, color=green)
hline(midLine, title="Mid Line", color=gray,linestyle=dashed)
hline(minLine, title="Min Line", linestyle=dashed, color=red)

bVal = maxLine - midLine
hline(midLine+(bVal*pThr), title="+ Thr. Line", linestyle=dotted, color=green)
hline(midLine-(bVal*pThr), title="- Thr. Line", linestyle=dotted, color=red)

bgcolor(macd>=0 ? green : red , transp=90)

plotshape(macd < 0 and crossover(macd, signal) ? macd : na, style=shape.triangleup,location=location.bottom, color=green)
plotshape(macd < 0 and crossunder(macd, signal) ? macd : na, style=shape.circle,location=location.top, color=red)

plotshape(macd >= 0 and crossunder(macd, signal) ? macd : na, style=shape.triangledown,location=location.top, color=red)
plotshape(macd >= 0 and crossover(macd, signal) ? macd : na, style=shape.circle,location=location.bottom, color=green)