[blackcat] L3 Faster MACD

19 apr 2022

Level 3

Background

I am seeking a way to make MACD faster

Function

By using stoch, but with MACD method, a faster MACD is made. short term faster kd is used for macd lines. long term kd is used for histogram, which can counteract the histogram grade gap caused by tradtional MACD.


Remarks

This is a Level 1 free and open source indicator.

Feedbacks are appreciated.

19 apr

Note di rilascio

OVERVIEW
The [blackcat] L3 Faster MACD indicator provides an enhanced version of the traditional Moving Average Convergence Divergence (MACD), offering faster momentum detection. By calculating both fast and slow momentum components, this script helps traders identify potential trend reversals more quickly. It plots various elements on a separate pane, including momentum lines, histograms, and generates alerts for bullish and bearish signals 📊↗️.

FEATURES

Calculates Fast Momentum and Slow Trend using custom functions:
Fast Momentum: Based on shorter-term price action.
Slow Trend: Based on longer-term price action.
Plots key components on a separate pane:
Fast Momentum Line and Signal Line.
Momentum Histogram with dynamic coloring.
Generates buy and sell signals based on crossover and crossunder conditions 🚀📉
Adds visual labels for easy identification of trade signals:
"Buy" labeled in green during bullish crossovers.
"Sell" labeled in red during bearish crossunders.
Provides alert conditions for both bullish and bearish signals 🔔
HOW TO USE

Add the indicator to your TradingView chart by selecting it from the indicators list.
Observe the plotted momentum lines and histograms on the separate pane.
Monitor the buy ('Buy') and sell ('Sell') labels for potential trade opportunities.
Set up alerts based on the generated signals to receive notifications when conditions are met 📲.
Combine this indicator with other tools for confirmation before making trading decisions.
PLOTTED ELEMENTS

Fast Momentum Line: Represents short-term momentum.
Fast Signal Line: Smoothed version of the Fast Momentum Line.
Momentum Histogram:
Positive values shown in lime/green.
Negative values shown in blue/yellow.
Dynamic coloring based on trend strength.
LIMITATIONS

The indicator may generate false signals in choppy or ranging markets 🌪️.
Users should always confirm signals with other forms of analysis.
The responsiveness of the indicator depends on the chosen parameters.
NOTES

Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Adjust the input parameters as needed to fit different market conditions and timeframes.