MACD & Stoch Double Cross (≤N bars apart)

7 giorni fa

Inputs (What the script considers / user can set)
How close the MACD and Stochastic double crossing signals are:
You can set how many bars (time periods) apart the MACD and Stochastic “cross” signals can be for the script to count them as a valid signal (e.g., 3 bars apart by default).
Extra confirmations from other timeframes:
You can choose if you want the script to double-check the MACD signal on other chart timeframes (like 5-minute, 15-minute, or 1-hour charts) before showing a signal.
You can also require that the MACD line is above or below zero on these timeframes for extra confirmation.
MACD and Stochastic signals:
The script looks for two types of signals:
When the MACD line crosses above/below its signal line (MACD cross).
When the Stochastic “%K” line crosses above/below its “%D” line (Stoch cross).
Default and Alternative Timeframes
Default Settings:
The script’s default inputs are configured for use on the 5-minute timeframe chart. This means the confirmations and logic are best suited for 5-minute candles by default.
Using on Other Timeframes:
If you want to use this script on a 1-minute or 15-minute chart, you can do so!
Just adjust the input settings (like which confirmations are enabled) to match your chosen chart timeframe.
For example, if you are on a 1-minute chart, you might want to enable confirmations from the 5-minute and disable for other timeframe, and so on.
Outputs (What the script shows/does)
Buy and Sell Arrows:
When both the MACD and Stochastic cross in the same direction within the allowed number of bars, and all confirmations are met, the script plots a blue arrow below the bar for a buy signal, or an orange arrow above the bar for a sell signal.
Number Label:
When a signal appears, it also draws a square label with a number. This number tells you how many bars apart the two crosses actually happened.
Alerts:
The script can trigger alerts (notifications) when a new buy or sell signal appears, so you don’t have to watch the chart all the time.
Summary:
By default, the script is set up for the 5-minute chart, but you can use it on 1-minute or 15-minute charts by changing the input settings to fit your needs. The script helps you spot when both the MACD and Stochastic indicators agree on a buy or sell signal close together, and can alert you or mark the chart when this happens.

7 giorni fa

Note di rilascio

Script updated to show signals on double crossing only when the Stochastic cross leads the MACD cross.