Algokid

AK MACD BB INDICATOR V 1.00

Here's my version of the MACD _BB . This is a great indicator to capture short term trends.

yellow candles = long
aqua candles = short

This indicator can be much better. I will work on it and publish an improved version (hopefully) soon. In the mean time , go ahead and play around with the code, and please share your findings :)

Cheers

Algo
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.

Want to use this script on a chart?
//AK MACD BB 
//created by Algokid , February 24,2015


study("AK MACD BB v 1.00")

length = input(10, minval=1, title="BB Periods")
dev = input(1, minval=0.0001, title="Deviations")

//MACD
fastLength = input(12, minval=1) 
slowLength=input(26,minval=1)
signalLength=input(9,minval=1)
fastMA = ema(close, fastLength)
slowMA = ema(close, slowLength)
macd = fastMA - slowMA

//BollingerBands

Std = stdev(macd, length)
Upper = (Std * dev + (sma(macd, length)))
Lower = ((sma(macd, length)) - (Std * dev))


Band1 = plot(Upper, color=gray, style=line, linewidth=2,title="Upper Band")
Band2 = plot(Lower, color=gray, style=line, linewidth=2,title="lower Band")
fill(Band1, Band2, color=blue, transp=75,title="Fill")

mc = macd >= Upper ? lime:red

// Indicator

plot(macd, color=mc, style =circles,linewidth = 3)
zeroline = 0 
plot(zeroline,color= orange,linewidth= 2,title="Zeroline")

//buy
barcolor(macd >Upper ? yellow:na)
//short
barcolor(macd <Lower ? aqua:na)

//needs improvments 



Comments

What is the difference between the aqua bars with a red boarder and those without - does it signal weak (red boarder) and strong (no boarder)?
+59 Reply
Great indicator in this market Looking forward to V2 ...I use 5 35 5 setting and scalp aggressively
+30 Reply
ramvardhan TASAVANT
@TASAVANT, Hi bro, which combination of indicators of are you using?
+9 Reply
Hi, modded this indicator a little : added barcolor input ( enable/disable). Thanks !
Source code below:

//AK MACD BB
//created by Algokid , February 24,2015
//modded by Alexandre Pereira, July 6, 2016
color_red_light = #e57373
color_red = #f44336
color_red_dark = #d32f2f

color_blue_light = #64b5f6
color_blue = #2196f3
color_blue_dark = #1976d2

color_green_light = #81c784
color_green = #4caf50
color_green_dark = #388e3c

color_orange_light = #ffb74d
color_orange = #ff9800
color_orange_dark = #f57c00

color_lime_light = #dce775
color_lime = #cddc39
color_lime_dark = #afb42b



study("AK MACD BB v 1.00")

length = input(10, minval=1, title="BB Periods")
dev = input(1, minval=0.0001, title="Deviations")
bar_color = input(false, "Bar colors")
//MACD
fastLength = input(12, minval=1)
slowLength=input(26,minval=1)
signalLength=input(9,minval=1)
fastMA = ema(close, fastLength)
slowMA = ema(close, slowLength)
macd = fastMA - slowMA

//BollingerBands

Std = stdev(macd, length)
Upper = (Std * dev + (sma(macd, length)))
Lower = ((sma(macd, length)) - (Std * dev))


Band1 = plot(Upper, color=color_red_light, style=line, linewidth=2,title="Upper Band")
Band2 = plot(Lower, color=color_green_light, style=line, linewidth=2,title="lower Band")
fill(Band1, Band2, color=color_blue_light, transp=75,title="Fill")

mc = macd >= Upper ? color_green: macd <= Lower ? color_red : color_blue

// Indicator

plot(macd, color=mc, style =circles,linewidth = 3)
zeroline = 0
plot(zeroline,color= orange,linewidth= 2,title="Zeroline")

//buy
barcolor(bar_color and macd > Upper ? color_lime:na)
//short
barcolor(bar_color and macd < Lower ? color_orange:na)
+14 Reply
Algokid pereira.alex
Thank you for sharing this with the rest of the community. :)
+1 Reply
gumbah Algokid
Thanks for the indicator Algo!
Q: did you ever manage to find time for a new/improved version of this? And in what way would you improve it?
+6 Reply
@gumbah, How can I test this? Very new when it comes to changing scripts..
Reply
I like this indicator. The Bands are a neat idea to catch the stronger trends while keeping you out of (some, not all of course) unprofitable sideways situations.

For trading I think an additional trend-filter (like a wide 0.01 step PSAR or a 3 dev Supertrend) would help improve the winning ratio by only taking trades in direction of the larger underlying trend (ie don't take short trades when the longterm trend is still up, and vice versa), so it doesn't take every little trade all the time but only the higher probability (= profitability) big ones.
+12 Reply
Thank you for developing a very powerful indicator super, Im using on 5 min time frame for day trading..
Any tricks to improve accuracy for entry and exit ?
+11 Reply
IS THE LATEST THE MOST RECNT? CAN IT BE USED FOR LONG TIMEFRAMES NOW?
+9 Reply