OPEN-SOURCE SCRIPT
MMTC-MACD by [PiingPOng]
MMTC-MACD by [PiingPOng]
This is MMTC-MACD, my take on a custom MACD indicator. It’s designed to make reading market trends faster and easier with clear visuals and simple logic. Whether you're a beginner or a pro trader, this tool can help you spot momentum shifts at a glance.
What It Does:
Colored Columns:
MACD values are shown as columns that change color depending on market conditions:
Dark Green: Rising and above zero (strong bullish trend).
Light Green: Above zero but not rising (weaker bullish trend).
Dark Red: Falling and below zero (strong bearish trend).
Light Red: Below zero but not falling (weaker bearish trend).
Background Colors:
The background changes based on MACD values:
Green: MACD is above zero (bullish).
Red: MACD is below zero (bearish).
Zero Line:
A horizontal line marks the zero level, making it easier to see when the trend flips.
How It Works:
The MACD is calculated using these settings:
Fast Line: 12
Slow Line: 26
Signal Line: 9
It checks the current close price (close) and the last two bars to figure out the trend direction.
The script automatically updates the background and column colors to match the MACD trend.
Why Use It:
Quick and easy trend reading without overcomplicating things.
Works on all markets and timeframes.
Keeps your chart clean but still packed with useful info.
If you’re looking for a simple, effective way to track momentum shifts, the MMTC-MACD is for you. Give it a try and take your trading game up a notch!
This is MMTC-MACD, my take on a custom MACD indicator. It’s designed to make reading market trends faster and easier with clear visuals and simple logic. Whether you're a beginner or a pro trader, this tool can help you spot momentum shifts at a glance.
What It Does:
Colored Columns:
MACD values are shown as columns that change color depending on market conditions:
Dark Green: Rising and above zero (strong bullish trend).
Light Green: Above zero but not rising (weaker bullish trend).
Dark Red: Falling and below zero (strong bearish trend).
Light Red: Below zero but not falling (weaker bearish trend).
Background Colors:
The background changes based on MACD values:
Green: MACD is above zero (bullish).
Red: MACD is below zero (bearish).
Zero Line:
A horizontal line marks the zero level, making it easier to see when the trend flips.
How It Works:
The MACD is calculated using these settings:
Fast Line: 12
Slow Line: 26
Signal Line: 9
It checks the current close price (close) and the last two bars to figure out the trend direction.
The script automatically updates the background and column colors to match the MACD trend.
Why Use It:
Quick and easy trend reading without overcomplicating things.
Works on all markets and timeframes.
Keeps your chart clean but still packed with useful info.
If you’re looking for a simple, effective way to track momentum shifts, the MMTC-MACD is for you. Give it a try and take your trading game up a notch!
Skrypt open-source
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