OPEN-SOURCE SCRIPT
MACD DEMA by Toff
MACD DEMA by Toff
converted to version 5
Changed Histogram formatting
Changed MACD plot to indicate macd direction change
//version=5
//by ToFFF converted to version 5, changed histogram formating changed macd plot to show macd direction changed with lighter color
indicator('MACD DEMA', timeframe = "", timeframe_gaps=true)
sma = input(12,title='DEMA Short')
lma = input(26,title='DEMA Long')
tsp = input(9,title='Signal')
lines = input(true,title="Lines")
col_grow_above = input(#26A69A, "Above Grow", group="Histogram", inline="Above")
col_fall_above = input(#B2DFDB, "Fall", group="Histogram", inline="Above")
col_grow_below = input(#FFCDD2, "Below Grow", group="Histogram", inline="Below")
col_fall_below = input(#FF5252, "Fall", group="Histogram", inline="Below")
col_macd = input(#2962FF, "MACD Line ", group="Color Settings", inline="MACD")
col_signal = input(#FF6D00, "Signal Line ", group="Color Settings", inline="Signal")
col_macd_i = #0000FF
col_macd_d = #66FFFF
slowa = ta.ema(close,lma)
slowb = ta.ema(slowa,lma)
DEMAslow = ((2 * slowa) - slowb)
fasta = ta.ema(close,sma)
fastb = ta.ema(fasta,sma)
DEMAfast = ((2 * fasta) - fastb)
MACD = (DEMAfast - DEMAslow)
signala = ta.ema(MACD, tsp)
signalb = ta.ema(signala, tsp)
signal = ((2 * signala) - signalb)
hist = (MACD - signal)
//swap1 = MACDZeroLag>0?green:red
plot(hist,style=plot.style_columns, color=(hist>=0 ? (hist[1] < hist ? col_grow_above : col_fall_above) : (hist[1] < hist ? col_grow_below : col_fall_below)),title='HIST')
p1 = plot(lines?MACD:na,style = plot.style_line, color=(MACD[1] < MACD) ? col_macd_i : col_macd_d , linewidth =3,title='MACD')
p2 = plot(lines?signal:na, color=col_signal, linewidth =2,title='Signal')
hline(0)
converted to version 5
Changed Histogram formatting
Changed MACD plot to indicate macd direction change
//version=5
//by ToFFF converted to version 5, changed histogram formating changed macd plot to show macd direction changed with lighter color
indicator('MACD DEMA', timeframe = "", timeframe_gaps=true)
sma = input(12,title='DEMA Short')
lma = input(26,title='DEMA Long')
tsp = input(9,title='Signal')
lines = input(true,title="Lines")
col_grow_above = input(#26A69A, "Above Grow", group="Histogram", inline="Above")
col_fall_above = input(#B2DFDB, "Fall", group="Histogram", inline="Above")
col_grow_below = input(#FFCDD2, "Below Grow", group="Histogram", inline="Below")
col_fall_below = input(#FF5252, "Fall", group="Histogram", inline="Below")
col_macd = input(#2962FF, "MACD Line ", group="Color Settings", inline="MACD")
col_signal = input(#FF6D00, "Signal Line ", group="Color Settings", inline="Signal")
col_macd_i = #0000FF
col_macd_d = #66FFFF
slowa = ta.ema(close,lma)
slowb = ta.ema(slowa,lma)
DEMAslow = ((2 * slowa) - slowb)
fasta = ta.ema(close,sma)
fastb = ta.ema(fasta,sma)
DEMAfast = ((2 * fasta) - fastb)
MACD = (DEMAfast - DEMAslow)
signala = ta.ema(MACD, tsp)
signalb = ta.ema(signala, tsp)
signal = ((2 * signala) - signalb)
hist = (MACD - signal)
//swap1 = MACDZeroLag>0?green:red
plot(hist,style=plot.style_columns, color=(hist>=0 ? (hist[1] < hist ? col_grow_above : col_fall_above) : (hist[1] < hist ? col_grow_below : col_fall_below)),title='HIST')
p1 = plot(lines?MACD:na,style = plot.style_line, color=(MACD[1] < MACD) ? col_macd_i : col_macd_d , linewidth =3,title='MACD')
p2 = plot(lines?signal:na, color=col_signal, linewidth =2,title='Signal')
hline(0)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.