[NLR] - MACD Overlay

19 мар.

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 мар.

Информация о релизе

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 мар.

Информация о релизе

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

20 мар.

Информация о релизе

Removed slow line from visualization

20 мар.

Информация о релизе

Improved visualization to accurately show histogram and signal line

20 мар.

Информация о релизе

added extra SMA

20 мар.

Информация о релизе

updated chart with more explanation

20 мар.

Информация о релизе

changed histogram style to improve visualization style

21 мар.

Информация о релизе

Removed SMA
Added option to enable/disable histogram color coding

21 мар.

Информация о релизе

Added option to smooth source
changed signal line style

21 мар.

Информация о релизе

keeping default multiplier to 1

24 мар.

Информация о релизе

Changed signal line style

4 апр.

Информация о релизе

Modified to match styles with rest of MACD Overlay indicators