OPEN-SOURCE SCRIPT
MACD/RSI/EMA D1/H4/H1
This script is a custom indicator written in Pine Script, designed for use on TradingView. It combines multiple technical analysis tools to analyze market conditions across three different timeframes: daily (D1), 4-hour (H4), and 1-hour (H1). The indicator focuses on three main technical indicators: MACD, RSI, and EMA.
Key Functions:
1. MACD (Moving Average Convergence Divergence):
• The script calculates the MACD line and its signal line. It detects whether the MACD is moving upwards (bullish) or downwards (bearish) by comparing the current and previous values.
2. RSI (Relative Strength Index):
• RSI is calculated for each timeframe, and it indicates whether the market is overbought (>50, bullish) or oversold (<50, bearish).
3. EMA (Exponential Moving Average):
• The script calculates the 20, 50, and 200-period EMAs. It checks whether the short-term EMA (20) is above the medium (50) and long-term EMA (200), which would signal a bullish market. The opposite would signal a bearish market.
Timeframes:
• The indicator calculates values for D1, H4, and H1 timeframes.
Logic for Strong and Weak Signals:
• Strong Buy: All timeframes (D1, H4, H1) show a bullish trend (MACD > 0, RSI > 50, and bullish EMA conditions).
• Weak Buy: Either D1 or H4 or H1 shows a bullish trend (but not all).
• Strong Sell: All timeframes show a bearish trend.
• Weak Sell: Either D1 or H4 or H1 shows a bearish trend.
• Wait: No clear signal is present.
Table:
The results of the analysis are presented in a table at the bottom right of the TradingView chart, showing:
• MACD direction (with arrows indicating whether the MACD is bullish or bearish).
• RSI values (with arrows showing whether it’s above or below 50).
• EMA state (with arrows showing whether the market is in a bullish, bearish, or neutral state).
• Signal: The overall recommendation (strong/weak buy/sell or wait), along with the corresponding color.
This script helps traders to quickly visualize the trend strength across multiple timeframes and make more informed trading decisions based on a combination of MACD, RSI, and EMA signals.
Key Functions:
1. MACD (Moving Average Convergence Divergence):
• The script calculates the MACD line and its signal line. It detects whether the MACD is moving upwards (bullish) or downwards (bearish) by comparing the current and previous values.
2. RSI (Relative Strength Index):
• RSI is calculated for each timeframe, and it indicates whether the market is overbought (>50, bullish) or oversold (<50, bearish).
3. EMA (Exponential Moving Average):
• The script calculates the 20, 50, and 200-period EMAs. It checks whether the short-term EMA (20) is above the medium (50) and long-term EMA (200), which would signal a bullish market. The opposite would signal a bearish market.
Timeframes:
• The indicator calculates values for D1, H4, and H1 timeframes.
Logic for Strong and Weak Signals:
• Strong Buy: All timeframes (D1, H4, H1) show a bullish trend (MACD > 0, RSI > 50, and bullish EMA conditions).
• Weak Buy: Either D1 or H4 or H1 shows a bullish trend (but not all).
• Strong Sell: All timeframes show a bearish trend.
• Weak Sell: Either D1 or H4 or H1 shows a bearish trend.
• Wait: No clear signal is present.
Table:
The results of the analysis are presented in a table at the bottom right of the TradingView chart, showing:
• MACD direction (with arrows indicating whether the MACD is bullish or bearish).
• RSI values (with arrows showing whether it’s above or below 50).
• EMA state (with arrows showing whether the market is in a bullish, bearish, or neutral state).
• Signal: The overall recommendation (strong/weak buy/sell or wait), along with the corresponding color.
This script helps traders to quickly visualize the trend strength across multiple timeframes and make more informed trading decisions based on a combination of MACD, RSI, and EMA signals.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.