[PUZ] MACD MTB System MTF

MACD Moving Average convergence/divergence

Here are a little articel how the MACD is calculated an how you can use it.
https://en.wikipedia.org/wiki/MACD

This Indicator have many differet spezifications than a normal MACD.

You can use different timeframes.

The histogramm workes a litle bit smother

The signalline have two different colors:
He is blue when the macd line is greater than the signalline and the signalline is red when the macd line is smaller than the signalline.

The macd line habe three different colores:
Color green when the macd line is greater than the macd line one period back and the macd line is under the signal line.
Color yellow when the macd line is smaller than the macd line one period back and the macd line is greater than the signalline.
Color gray when the conditions fot color yellow an green are not true

Three different types for Signals

The L1 signal show you a triange when the macd ist crossover or crossunder the signal line, you can use the L1 Threshold to filter the signals.
For example the L1 long threshold is equal to 0 than the Indicator show you only L1 long singnals when the crossover from the macd line to the signal line is smaller than 0.
This works like the same for all Signals (L2 signals / L3 signals)

The L2 signals show you a bigger triangle when the color from the macd line is eqal to yellow or green, you can use the L2 Threshold to filter the signals.

The L3 signals show you a green or red diamond when the histogramm is rising or falling, you can use the L3 Threshold to filter the signals.


Multibit Signal Compatible Indicator with DJMAD Multibit System
This Pine Script indicator is designed to function as part of the Multibit Signal System developed by DJMAD. It encompasses a comprehensive implementation of a MACD-based trading strategy with multiple threshold levels, color-coded signals, alert functionalities, and seamless compatibility with the Multibit Signal System for more sophisticated signal analysis and trading strategies.

Signal Daisychain:

Provides a configurable interface (Signal_Channel_Line1 to Signal_Channel_Line6) that allows users to select channel lines for Long and Short conditions, specifically designed for compatibility with the Multibit Signal System.

Multibit Signal Integration:

Utilizes functions from DJMAD's Signal_transcoder_library to encode and decode signals, ensuring compatibility with the Multibit Signal System for advanced signal processing and strategy development.

For more Informations about the Multibit System please look at djmad Tradingview Profile.