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Black MACD
Updated
Black MACD is combination of MACD / Awesome Oscillator / Wavetrend Oscillator / BB Squeeze (Multi Oscillator) with many features like Multi Symbol support, Dual Divergence, MACD Cross over/under and completely customizable.
*Multi Symbol
*Bollinger Bands Squeeze
*Dual Divergence
*MACD Cross
*Awesome Oscillator
*Wavetrend Oscillator
What is Moving Average Convergence Divergence – MACD?
The most popular indicator used in technical analysis, Moving average convergence divergence ( MACD ) reveal changes in the strength, direction, momentum, and duration of a trend in a financial instrument’s price. It's 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.
The MACD indicator is typically good for identifying three types of basic signals;
Signal Line Crossovers
A Signal Line Crossover is the most common signal produced by the MACD . On the occasions where the MACD Line crosses above or below the Signal Line, that can signify a potentially strong move. The standard interpretation of such an event is a recommendation to buy if the MACD line crosses up through the Signal Line (a "bullish" crossover), or to sell if it crosses down through the Signal Line (a "bearish" crossover). These events are taken as indications that the trend in the financial instrument is about to accelerate in the direction of the crossover.
Zero Line Crossovers
Zero Line Crossovers occur when the MACD Line crossed the Zero Line and either becomes positive (above 0) or negative (below 0). A change from positive to negative MACD is interpreted as "bearish", and from negative to positive as "bullish". Zero crossovers provide evidence of a change in the direction of a trend but less confirmation of its momentum than a signal line crossover
Divergence
Divergence is another signal created by the MACD . Simply, divergence occurs when the MACD and actual price are not in agreement. A "positive divergence" or "bullish divergence" occurs when the price makes a new low but the MACD does not confirm with a new low of its own. A "negative divergence" or "bearish divergence" occurs when the price makes a new high but the MACD does not confirm with a new high of its own. A divergence with respect to price may occur on the MACD line and/or the MACD Histogram
Moving Average Crossovers, another hidden signal that MACD Indicator identifies
Many traders will watch for a short-term moving average to cross above a longer-term moving average and use this to signal increasing upward momentum. This bullish crossover suggests that the price has recently been rising at a faster rate than it has in the past, so it is a common technical buy sign. Conversely, a short-term moving average crossing below a longer-term average is used to illustrate that the asset's price has been moving downward at a faster rate and that it may be a good time to sell.
Moving Average Crossovers in reality is Zero Line Crossovers, the value of the MACD indicator is equal to zero each time the two moving averages cross over each other. For easy interpretation by trades, Zero Line Crossovers are simply described as positive or negative MACD
False signals
Like any forecasting algorithm, the MACD can generate false signals. A false positive, for example, would be a bullish crossover followed by a sudden decline in a financial instrument. A false negative would be a situation where there is bearish crossover, yet the financial instrument accelerated suddenly upwards
What is Awesome Oscillator?
The Awesome Oscillator is an indicator used to measure market momentum. AO calculates the difference of a 34 Period and 5 Period Simple Moving Averages. The Simple Moving Averages that are used are not calculated using closing price but rather each bar's midpoints. AO is generally used to affirm trends or to anticipate possible reversals.
Disclaimer: DYOR. Not financial advice. Not a trading system. I am not affiliated with TradingView or any authors mentioned here; You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely. Always trade with confluence and Risk Management.
Feedback & Bug report
if you found any bug in this indicator or any suggestion, please let me know. Please give feedback & appreciate if you like to see more future updates and indicators. Thank you
Check out Black RSI indicator:
- MACD Oscillator
*Awesome Oscillator
*Wavetrend Oscillator
*Bollinger Bands Squeeze
*Multi Symbol
*Dual Divergence
*MACD Cross over/under
*Full Customization
*Multi Symbol
*Bollinger Bands Squeeze
*Dual Divergence
*MACD Cross
*Awesome Oscillator
*Wavetrend Oscillator
What is Moving Average Convergence Divergence – MACD?
The most popular indicator used in technical analysis, Moving average convergence divergence ( MACD ) reveal changes in the strength, direction, momentum, and duration of a trend in a financial instrument’s price. It's 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.
The MACD indicator is typically good for identifying three types of basic signals;
Signal Line Crossovers
A Signal Line Crossover is the most common signal produced by the MACD . On the occasions where the MACD Line crosses above or below the Signal Line, that can signify a potentially strong move. The standard interpretation of such an event is a recommendation to buy if the MACD line crosses up through the Signal Line (a "bullish" crossover), or to sell if it crosses down through the Signal Line (a "bearish" crossover). These events are taken as indications that the trend in the financial instrument is about to accelerate in the direction of the crossover.
Zero Line Crossovers
Zero Line Crossovers occur when the MACD Line crossed the Zero Line and either becomes positive (above 0) or negative (below 0). A change from positive to negative MACD is interpreted as "bearish", and from negative to positive as "bullish". Zero crossovers provide evidence of a change in the direction of a trend but less confirmation of its momentum than a signal line crossover
Divergence
Divergence is another signal created by the MACD . Simply, divergence occurs when the MACD and actual price are not in agreement. A "positive divergence" or "bullish divergence" occurs when the price makes a new low but the MACD does not confirm with a new low of its own. A "negative divergence" or "bearish divergence" occurs when the price makes a new high but the MACD does not confirm with a new high of its own. A divergence with respect to price may occur on the MACD line and/or the MACD Histogram
Moving Average Crossovers, another hidden signal that MACD Indicator identifies
Many traders will watch for a short-term moving average to cross above a longer-term moving average and use this to signal increasing upward momentum. This bullish crossover suggests that the price has recently been rising at a faster rate than it has in the past, so it is a common technical buy sign. Conversely, a short-term moving average crossing below a longer-term average is used to illustrate that the asset's price has been moving downward at a faster rate and that it may be a good time to sell.
Moving Average Crossovers in reality is Zero Line Crossovers, the value of the MACD indicator is equal to zero each time the two moving averages cross over each other. For easy interpretation by trades, Zero Line Crossovers are simply described as positive or negative MACD
False signals
Like any forecasting algorithm, the MACD can generate false signals. A false positive, for example, would be a bullish crossover followed by a sudden decline in a financial instrument. A false negative would be a situation where there is bearish crossover, yet the financial instrument accelerated suddenly upwards
What is Awesome Oscillator?
The Awesome Oscillator is an indicator used to measure market momentum. AO calculates the difference of a 34 Period and 5 Period Simple Moving Averages. The Simple Moving Averages that are used are not calculated using closing price but rather each bar's midpoints. AO is generally used to affirm trends or to anticipate possible reversals.
Disclaimer: DYOR. Not financial advice. Not a trading system. I am not affiliated with TradingView or any authors mentioned here; You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely. Always trade with confluence and Risk Management.
Feedback & Bug report
if you found any bug in this indicator or any suggestion, please let me know. Please give feedback & appreciate if you like to see more future updates and indicators. Thank you
Check out Black RSI indicator:
Release Notes
- Multi Time Frame MACD Panel (Added): New feature of 'MTF MACD Panel' added to Black MACD. Displays Multiple Time Frame/Multiple Symbol MACD Bullish/Strong Bullish/Bearish/Strong Bearish trends of user choice selected timeframes in compact panel (max 8 Time frames)
Release Notes
*tiny updateRelease Notes
- Multi Time Frame MACD Panel (Added): New feature of 'MTF MACD Panel' added to Black MACD.
Displays Multiple Time Frame MACD with Multiple Symbol Bullish/Strong Bullish/Bearish/Strong Bearish trend strength + Cross of user choice selected timeframes in compact panel (max 8 Time frames). NO NEED TO CHECK MACD CROSS ON EVERY TIMEFRAME
Please SHARE it if you like my work, suggestions and feedback is welcome.
Release Notes
- Dashboard (Added): Dashboard added to Black MACD for easy enabling/disabling of oscillator tools
Release Notes
MTF MACD Panel (updated): Trend strength based colors option added to MTF MACD panel (Zero Line & Histogram)MACD Trend strength colors based on "Zero Line":
MACD > Signal and MACD > Zero Line = Strong Bullish color
MACD > Signal and MACD < Zero Line = Bullish color
Signal > MACD and Signal > Zero Line = Bearish color
Signal > MACD and Signal < Zero Line = Strong Bearish color
MACD Trend strength colors based on "Histogram":
MACD Histogram grow above = Strong Bullish color
MACD Histogram fall above = Bullish color
MACD Histogram grow below = Bearish color
MACD Histogram fall below = Strong Bearish color
MTF MACD Panel (bug fixed): multiple symbol (override symbol) in MTF MACD Panel bug fixed!
Release Notes
Wavetrend oscillator (removed): Due to low performance (backtested)Awesome oscillator (removed): Due to low performance (backtested)
Release Notes
MACD Cross color: Bug FixedRelease Notes
[Check out Other Black Indicators]* All Black Indicators
tradingview.com/u/NabeelBlack/
* Black RSI (Pro Suite)
*Black RSI (Pro)
*Black RSI (Multi Symbol RSI)
*Black RSI (Lite)
*Black Moving Averages
tradingview.com/v/0tsi4YTO/
Release Notes
[Check out Other Black Indicators]* All Black Indicators
https://www.tradingview.com/u/NabeelBlack/#published-scripts
* Black RSI (Pro Suite)
https://www.tradingview.com/script/yymUI8Tz-Black-RSI-Pro-Suite/
*Black RSI (Pro)
https://www.tradingview.com/script/58d2AnJY-Black-RSI-Pro/
*Black RSI (Multi Symbol RSI)
https://www.tradingview.com/script/ynQ4gJ3x-Black-RSI-Multi-Symbol-RSI/
*Black RSI (Lite)
https://www.tradingview.com/script/uerAooyv-Black-RSI-Lite/
*Black Moving Averages
https://www.tradingview.com/v/0tsi4YTO/
Release Notes
- MACD/Signal Lines Fill Colors added to MACD/Signal Lines Settings
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.