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MACD Customizable with Color Histogram

Description

This indicator is an enhanced version of classical MACD indicator, which adds several facilities which will make the graphical analysis easier.


General Features

  • Includes a colored version of MACD Histogram
  • MACD Histogram indicates ascending or descending
  • Capability to hide or show Main line, Signal line or MACD Histogram line
  • Automatic scaling of the indicator window according to Main line, or to MACD Histogram line, which one is visible
  • Indicator in separate line


MACD Histogram Indications

  • When MACD Histogram is positive and ascending, the bar color is Dark Green
  • When MACD Histogram is positive and descending, the bar color is Light Green
  • When MACD Histogram is negative and ascending, the bar color is Dark Red
  • When MACD Histogram is negative and descending, the bar color is Red


Inputs

  • emaFast: Fast EMA period used in MACD calculation
  • emaSlow: Slow EMA period used in MACD calculation
  • emaSign: Signal MA period used in MACD calculation
  • appliedPrice: Applied price
  • showMain: Show MACD Main line
  • showSign: Show MACD Signal line
  • showHist: Show MACD Histogram
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