Moving Average Convergence Divergence (with Fade Alert)

5 ago

• Adds a new alertcondition() called “MACD Histogram Fading”.
• This alert triggers whenever the histogram bar is shrinking, regardless of direction.
• You can now set your alert on TradingView using that condition.

5 ago

Note di rilascio

✅ Purpose

The indicator checks two key conditions that match your MONZ strategy entry rules:
1. MACD Histogram is fading → Momentum is weakening
2. RSI is between 44 and 56 → Price is in the “neutral zone” (not overbought or oversold)

When both happen at the same time, the script triggers an alert.

⸻

🧠 How It Works (Internally)

1. MACD Calculation
• It calculates MACD the usual way:
• MACD line = EMA(12) - EMA(26)
• Signal line = EMA(9) of MACD line
• Histogram = MACD - Signal

2. MACD Fading Detection
• It checks if the current histogram bar is smaller in magnitude than the previous one.
• For example:
• Yesterday: green bar = +0.015
• Today: green bar = +0.008
→ ✅ This is fading upward momentum
• It works for both sides (bullish and bearish fade)

3. RSI Range Detection
• It calculates the RSI (14) and checks

4. Combined Alert Logic
• It only triggers when both conditions are true

🔔 Alerts

You get:
• ✅ Alert if MACD is fading
• ✅ Alert if MACD is fading AND RSI is 44–56 ← your main entry alert
• (Optional): Alerts for histogram flipping direction (rising→falling or vice versa)

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📊 Visuals on the Chart
• Histogram columns: green/red with lighter/darker colors based on strength
• MACD and signal lines
• A horizontal line at zero for reference

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🧩 Summary in One Line:

🔔 This script alerts you only when momentum is weakening (MACD fade) and RSI is in the ideal decision zone (44–56)

5 ago

Note di rilascio

When setting alerts in TradingView:
• Choose "GREEN Fading + RSI 44–56" if you want only weakening bullish momentum (e.g., for short entries).
• Choose "RED Fading + RSI 44–56" if you want only weakening bearish momentum (e.g., for long entries).
• You can also use "ANY Fade + RSI 44–56" if you want to catch both.