MACD with Signal – TradingView Pinescript source code

Moving average convergence divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. The MACD is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA.

//@author : SudeepBisht
strategy(title="MACD with Signal", shorttitle="MACD_with_Signal")
source = close
useCurrentRes = input(true, title="Use Current Chart Resolution?")
resCustom = input(title="Use Different Timeframe? Uncheck Box Above", type=resolution, defval="60")
smd = input(true, title="Show MacD & Signal Line? Also Turn Off Dots Below")
sd = input(true, title="Show Dots When MacD Crosses Signal Line?")
sh = input(true, title="Show Histogram?")
macd_colorChange = input(true,title="Change MacD Line Color-Signal Line Cross?")
hist_colorChange = input(true,title="MacD Histogram 4 Colors?")

res = useCurrentRes ? period : resCustom

fastLength = input(12, minval=1), slowLength=input(26,minval=1)

fastMA = ema(source, fastLength)
slowMA = ema(source, slowLength)

macd = fastMA - slowMA
signal = sma(macd, signalLength)
hist = macd - signal

outMacD = security(tickerid, res, macd)
outSignal = security(tickerid, res, signal)
outHist = security(tickerid, res, hist)

histA_IsUp = outHist > outHist[1] and outHist > 0
histA_IsDown = outHist < outHist[1] and outHist > 0
histB_IsDown = outHist < outHist[1] and outHist <= 0
histB_IsUp = outHist > outHist[1] and outHist <= 0

//MacD Color Definitions
macd_IsAbove = outMacD >= outSignal
macd_IsBelow = outMacD < outSignal

plot_color = hist_colorChange ? histA_IsUp ? green : histA_IsDown ? lime : histB_IsDown ? red : histB_IsUp ? maroon :yellow :gray
macd_color = macd_colorChange ? macd_IsAbove ? green : red : red
signal_color = macd_colorChange ? macd_IsAbove ? yellow : yellow : lime

circleYPosition = outSignal
plot(smd and outMacD ? outMacD : na, title="MACD", color=macd_color, linewidth=3)
plot(smd and outSignal ? outSignal : na, title="Signal", color=blue, style=line ,linewidth=1)
plot(sh and outHist ? outHist : na, title="", color=plot_color, style=columns, linewidth=4)
//plot(sd and cross(outMacD, outSignal) ? circleYPosition : na, title="Cross", style=circles, linewidth=4, color=macd_color)
hline(0, '0 Line', linestyle=solid, linewidth=2, color=white)

macd_chk=smd and outMacD ? outMacD : na
checker=smd and outSignal ? outSignal : na
if (crossover(macd_chk,checker))
    strategy.entry("BBandLE", strategy.long)

if (crossunder(macd_chk, checker))
    strategy.entry("BBandSE", strategy.short)


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