GreenMood inchart MACD Zero Lag — Indicator by Greenmood

macd zero lag inchart

MACD Zero lag Visual inchart view.

Threshold / Settings can be changed in Format view.

Threshold to be adapted depending on timeframe.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

Want to use this script on a chart?

//@version=2
study('GreenMood inchart MACD Zero Lag', overlay=true)
// MACD VARIABLE
Range_Zerolag_BearMin = input(10)
Range_Zerolag_BearlMax = input(30)
Range_Zerolag_BullMin = input(-10)
Range_Zerolag_BulllMax = input(-30)
// MACD ZERO LAG  INPUT
source = close
fastLength = input(12, minval=1)
slowLength=input(26,minval=1)
signalLength=input(9,minval=1)
// MACD ZERO LAG  CALCULATION
// FAST LINE
ema1= ema(source, fastLength)
ema2 = ema(ema1,fastLength)
differenceFast = ema1 - ema2
zerolagEMA = ema1 + differenceFast
demaFast = (2 * ema1) - ema2
// SLOW LINE
emas1= ema(source , slowLength)
emas2 = ema(emas1 , slowLength)
differenceSlow = emas1 - emas2
zerolagslowMA = emas1 + differenceSlow
demaSlow = (2 * emas1) - emas2
//MACD LINE
ZeroLagMACD = demaFast - demaSlow
//SIGNAL LINE
emasig1 = ema(ZeroLagMACD, signalLength)
emasig2 = ema(emasig1, signalLength)
signal = (2 * emasig1) - emasig2
// MACD ZERO LAG  OUTPUT
plotredMACD = iff((crossover(signal, ZeroLagMACD) and ZeroLagMACD >Range_Zerolag_BearMin and ZeroLagMACD <Range_Zerolag_BearlMax), crossover(signal, ZeroLagMACD), na)
plotredSTRONG_MACD = iff((crossover(signal, ZeroLagMACD) and ZeroLagMACD >Range_Zerolag_BearlMax), crossover(signal, ZeroLagMACD), na)
plotgreenMACD = iff((crossover(ZeroLagMACD,signal) and ZeroLagMACD <=Range_Zerolag_BullMin and ZeroLagMACD >Range_Zerolag_BulllMax), crossover(ZeroLagMACD, signal), na)
plotgreenSTRONG_MACD = iff((crossover(ZeroLagMACD,signal) and ZeroLagMACD <Range_Zerolag_BulllMax), crossover(ZeroLagMACD, signal), na)

plotshape(plotredMACD, style=shape.labeldown, location=location.top, color=red, size=size.tiny, text="MACD Sell", textcolor=white)
plotshape(plotgreenMACD, style=shape.labelup, location=location.bottom, color=lime, size=size.tiny, text="MACD Buy", textcolor=white)
plotshape(plotgreenSTRONG_MACD, style=shape.labelup, location=location.belowbar, color=lime, size=size.tiny, text="MACD Strong Buy", textcolor=white)
plotshape(plotredSTRONG_MACD, style=shape.labeldown, location=location.abovebar, color=red, size=size.tiny, text="MACD Strong Sell", textcolor=white)