Newer version of Momentum indicator introducing 4 colors so easy to spot momentum bars ticking up or down. User can customize the colors etc and turning the MACD/Signal lines on/off. This script is open to public so anyone can use it.
This is just like the normal MACD indicator, except that the values are Volume Weighted and the Histogram changes colour depending on the positive or negative value
Moving average convergence divergence (MACD) is a trend indicator that enables to show crossing between two (L and H in this script) moving averages of prices. The MACD is calculated by subtracting the 26-day for H (12 for L) exponential moving average (EMA) from the 12-day for H (5 for L) EMA with used signal value is 1 as default in this script. MACD L, H and...
Moving Average Convergence Divergence (MACD) is a trend indicator enables to show the relationship between 2 moving averages of prices (Low and High in this script). The MACD is calculated by subtracting the 26-day exponential moving average (EMA) from the 12-day EMA. MACD L, H and crossing are used for possible buy and sell signals' points.