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Reverse MACD (starting point)

Aug 28th, 2020 (edited)
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  1. study(title="Reverse MACD with buy/sell indicators", overlay=true)
  2. fastMA = input(title="Fast moving average", type = integer, defval = 1, minval = 7)
  3. slowMA = input(title="Slow moving average", type = integer, defval = 10, minval = 7)
  4. signalLength = input(9,minval=1)
  5.  
  6. [currMacd,_,_] = macd(close[0], fastMA, slowMA, signalLength)
  7. [prevMacd,_,_] = macd(close[1], fastMA, slowMA, signalLength)
  8. signal = ema(currMacd, signalLength)
  9.  
  10. crossoverBear = cross(currMacd, signal) and currMacd < signal ? avg(currMacd, signal) : na
  11. crossoverBull = cross(currMacd, signal) and currMacd > signal ? avg(currMacd, signal) : na
  12.  
  13. if close[1] < close and close[2] < close[1] and close[3] < close[2]
  14. // then
  15.     plotshape(crossoverBear, title='MACD-BEAR', style=shape.triangledown, text='', location=location.abovebar, color=red,
  16.     textcolor=black, size=size.tiny)
  17.     plotshape(crossoverBull, title='MACD-BULL', style=shape.triangleup, text='', location=location.belowbar, color=green,
  18.     textcolor=black, size=size.tiny)
  19.  
  20.     alertcondition(crossoverBear, "MACD Bear", "MACD Bearish Crossover")
  21.     alertcondition(crossoverBull, "MACD Bull", "MACD Bullish Crossover")
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