MightySunfish

Improved Moving Average Convergence/Divergence

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Simple change to the standard MACD formula I like to use that slow it down and reduces the amount of false signals while allowing strong/good signals through,
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study(title="Improved Moving Average Convergence/Divergence", shorttitle="Improved MACD")
source = close
fastLength = input(24, minval=1), slowLength=input(52,minval=1)
signalLength=input(9,minval=1)
fastMA = ema(source, fastLength)
slowMA = ema(source, slowLength)
macd = fastMA - slowMA
signal = sma(macd, signalLength)
hist = macd - signal
plot(hist, color=red, style=histogram)
plot(macd, color=blue)
plot(signal, color=orange)
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