Hi everyone,
Here is a script that synthesizes divergence signals from the MACD indicator, including 3 options:
- MACD divegence
- MACD signal divergence
- MACD histogram divergence
Scripts are used for learning and research purposes. THESE ARE NOT BUY/SELL SIGNALS.
If you have a better idea, share it here or contact me via msg. I will improve this script...
To best use the MACD Divergence indicators, adjust the following settings accordingly.
• MACD Bullish Divergence Under: <0 (lower for larger volatility and more bearish markets)
• MACD Bearish Divergence Above: >0 (higher for larger volatility and more bullish markets)
Key Notes:
1. Set "Once Per Bar" instead of "Once Per Bar Close" alert.
The...
MACD Line instead of MACD histogram or area. This gives more opportunities to catch divergences.
I showed regular MACD Histogram on top and then this indicator on bottom and showed with the red and green lines where you could catch multiple bearish and bullish divergences using this indicator vs a regular MACD histogram.
Send me a private message to join my...
