[NLR] - MACD Overlay

19 de mar.

Overview

This script is an enhanced version of the classic MACD indicator, designed to be plotted directly on the price chart as an overlay. It provides a visual representation of trend direction by coloring moving averages, a zero reference line, and an optional histogram. The script allows for a higher timeframe MACD calculation through a configurable multiplier.

Features

1. MACD Calculation: Uses Exponential Moving Averages (EMA) to calculate the MACD line, Signal line, and Histogram.
   
2. Higher Timeframe Support: Multiplier option to adjust MACD parameters for a broader trend perspective.
   
3. Color-Coded Trend Visualization: Dynamic color changes based on MACD crossovers for easy trend identification.
   
4. Optional Histogram: Toggle histogram visibility to see momentum shifts.
   
5. Zero Line Reference: Helps traders interpret trend direction and strength.
   

How to Use

1. Customize Inputs: Adjust Fast, Slow, and Signal lengths as needed. Modify the multiplier to view a higher timeframe MACD.
   
2. Enable Histogram: Use the "Show Histogram" toggle to display additional visual cues for momentum shifts.
   
3. Interpret the Signals:
   • Uptrend (Lime): Fast EMA is above Slow EMA.
     
   • Downtrend (Fuchsia): Fast EMA is below Slow EMA.
     
   • Histogram Changes: Increasing histogram bars indicate growing momentum, while decreasing bars suggest weakening momentum.

20 de mar.

Notas de Lançamento

Overview

This script is an enhanced version of the classic MACD indicator, designed to be plotted directly on the price chart as an overlay. It provides a visual representation of trend direction by coloring moving averages, a zero reference line, and an optional histogram. The script allows for a higher timeframe MACD calculation through a configurable multiplier.

Features

1. MACD Calculation: Uses Exponential Moving Averages (EMA) to calculate the MACD line, Signal line, and Histogram.
   
2. Higher Timeframe Support: Multiplier option to adjust MACD parameters for a broader trend perspective.
   
3. Color-Coded Trend Visualization: Dynamic color changes based on MACD crossovers for easy trend identification.
   
4. Optional Histogram: Toggle histogram visibility to see momentum shifts.
   
5. Zero Line Reference: Helps visualize price movement at zero line.
   

How to Use

1. Customize Inputs: Adjust Fast, Slow, and Signal lengths as needed. Modify the multiplier to view a higher timeframe MACD.
   
2. Enable Histogram: Use the "Show Histogram" toggle to display additional visual cues for momentum shifts.
   
3. Interpret the Signals:
4. • Uptrend (Lime): Fast EMA is above Slow EMA.
     
   • Downtrend (Fuchsia): Fast EMA is below Slow EMA.
     
   • Histogram Changes: Increasing histogram bars indicate growing momentum, while decreasing bars suggest weakening momentum.
     

20 de mar.

Notas de Lançamento

1. Updated histogram style
   
2. Added additional HMA to visualize trend direction
   

20 de mar.

Notas de Lançamento

Removed slow line from visualization

20 de mar.

Notas de Lançamento

Improved visualization to accurately show histogram and signal line

20 de mar.

Notas de Lançamento

added extra SMA

20 de mar.

Notas de Lançamento

updated chart with more explanation

20 de mar.

Notas de Lançamento

changed histogram style to improve visualization style

21 de mar.

Notas de Lançamento

Removed SMA
Added option to enable/disable histogram color coding

21 de mar.

Notas de Lançamento

Added option to smooth source
changed signal line style

21 de mar.

Notas de Lançamento

keeping default multiplier to 1

24 de mar.

Notas de Lançamento

Changed signal line style

4 de abr.

Notas de Lançamento

Modified to match styles with rest of MACD Overlay indicators