It´s just the histogram of the MACD. (Actually it´s not a histogram, I like the Area visualisation more. But you can switch.)
When I´m using the MACD, I´m just searching for a divergence between Price and the MACD-histogram. I´m not interested in the MACD-signalline or the MACD-line in any way. As you can see, The omission of them leads to better visualisation....
//Original creator ChrisMoody with credits to TheLark as well
//Edit & additions by HeCormier
//MACD indicator with histogram. Plots 4 colors based on direction above and belwo teh zero line.
//Backgrown color print based on divergence of macd trend & histogram loss of momentum.
//Recommend using with RSI divergence and CCI coded OBV for confirmations.
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.
Upgraded version of "Day_trade" script.
There is a late entry and a late closing, and the number of trades is less than the "Fast_Trade" script.
Please refer to the description of the old version for a detailed explanation.
Hello Fellow Traders!
This is the newest addition to Gnome Alerts PRO!
This is one of the newer scripts that we are using for scalping on the lower time frames on Bitmex & Binance.
This is a script that can be used on all time frames and includes back-testing. All of our scripts included back-testing and BUY & SELL...
MACD Line instead of MACD histogram or area. This gives more opportunities to catch divergences.
I showed regular MACD Histogram on top and then this indicator on bottom and showed with the red and green lines where you could catch multiple bearish and bullish divergences using this indicator vs a regular MACD histogram.
Send me a private message to join my...
My indicator detects divergence above 0 and below 0 .
Easy to use.
So that there is no confusion is the indicator at the bottom, oblique red or green lines are to demonstrate more visual the indicator does not make oblique lines, is the indicator on the bottom.
Green cross is bullish divergence and red cross is bearish divergence.
I offer access plans to all...
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