BenMACD Wilders LTF (Learning to Fish) PTBH (Paid By The Hour)

2022년 7월 5일

Howdy folks!

The study/script is based on Wilders MACD, and has its roots in "Learning to Fish", and "Paid by The Hour", made popular by Daniel on Twitter. This takes Daniel's work a step further.

As stated, this MACD Wilders based study. By using this script in TradingView you can take guesswork out of the "curls" and "I think it's curling up? Let me check the blue line and subtract..." Forget all that. This study alerts you with big red arrows and big green arrows, and a banner and a message. And it makes sounds. Alert for bullish and a different sound for bearish.

This study is timeframe and instrument agnostic. Use it to daytrade, swing trade, or trade pairs. I've personally found a lot of success using this, trading pairs (SQQQ/TQQQ or TNZ/TZA, for example) on the 5m and 15m intervals. It's also been very accurate on PBTH using stocks like SQ or BX.

With arrows showing the MACD curl, it makes trading a lot easier.

Also included are 4 built in alert conditions:

• upsignal - A bullish alert for 1 bar on the MACD.
  
• upsignalconfirm - A bullish alert on 2 consecutive bars on the MACD. Confirmation alert.
  
• downsignal - A bearish alert for 1 bar on the MACD.
  
• downsignalconfirm - A bearish alert on 2 consecutive bars on the MACD. Confirmation alert.
  

I can help setup alerts for you if need be, or if you're fluent in TradingView, you're welcome to do that yourself. The premise here, is that the upsignal is a bullish indicator (and is indicated with a green up arrow on the BenMACD chart) and the downsignal is a bearish indicator (and is indicated with a red down arrow on the BenMACD chart).

The upsignalconfirm and downsignal confirm and alerts built into the code. The alerts themselves will have to be created, but they're already here for easy reference and installation.

2022년 7월 5일

릴리즈 노트

Added green and red flags for confirmation.

2022년 7월 6일

릴리즈 노트

Updated MACD line to change from red to green and back when it flips.

2022년 7월 6일

릴리즈 노트

Fixed colors

2022년 7월 6일

릴리즈 노트

Made green bright on MACD line

2022년 7월 6일

릴리즈 노트

arrows brighter green.

2022년 7월 7일

릴리즈 노트

Changed the bar setting from "open" price to "close" price.

2022년 7월 7일

릴리즈 노트

Removed flags for confirmation, seeing adding in a color changing MACD line addresses the same thing. Also cleans up the chart.

2022년 7월 7일

릴리즈 노트

touchups

2022년 7월 8일

릴리즈 노트

Updated alerting messaging.

2022년 7월 11일

릴리즈 노트

Darkened the arrows to delineate from the histogram.

2022년 7월 11일

릴리즈 노트

Code comments only.

2023년 8월 18일

릴리즈 노트

updated to version 5, and added zero line.