OPEN-SOURCE SCRIPT

Grimes Modified MACD Supply Demand

A follower of mine asked me if I could make a version of my
RSI Based Automatic Supply and Demand
script using the MACD. Well it just so happens I was making a few modifications to my MACD script:
Grimes Modified MACD + Highest / Lowest Momentum Indicator
just as this question came up so I went ahead and threw this together.

The MACD that triggers the SR zones is pictured below, with key trigger points encircled to illustrate how it works.
Demand ZoneMoving Average Convergence / Divergence (MACD)priceactionSupply ZonesupportSupport and Resistance

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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