INVITE-ONLY SCRIPT

REDWOOD MTF MacD


This MTF MacD is a custom made indicator to show trends and potential trend changes.
As you see the MTF MacD is colored depending on the trend and if MacD is above or below the Signal.


This indicator shows the crossover or crossunder of these plots with the colored circles that
are plotted. This can be a very useful indicator to show you a start of a new trend or a trend that
is weak, giving you ideas of when to take profit or enter a new trade.


For more information on MacD in general (for reference) Please see the detailed
description here : https://www.investopedia.com/terms/m/macd.asp


This MacD is a Multi Time frame MacD, meaning it can show you higher or lower timeframes of the MacD no matter what current time frame your chart is on. This is
applied in the settings of the indicator by default, with a default timeframe of 4hr.

You can easily change back to the current time frame by checking the box "Use Current MacD Timeframe?". This can be very useful to get into a trend early, entering or exiting on low time frame bars while seeing the live Long time frame MacD. This can help reassure a position if the asset dips, or see if the asset is having one last push up before the fall.


The inputs of Fast ema, Slow ema, signal length can be customized to your liking.


There are inputs that will remove the MacD & Signal crosses, the histogram, or the MacD in general, there are also inputs you can apply that shows when the macd is changing its trend and pivoting.

For trading with this indicator, it works very well with a indicator confirming the position or potential change that is happening, I recommend the RSI or StochRSI. Specifically, the REDWOOD MTF Stochastic RSI.

When MacD line crosses over the Signal (black) line and is showing the MacD line lime, with the Histogram showing aqua or light blue,
this is when to take a Long or buy position.
When MacD line crosses under the Signal (black) line and is showing the MacD line red, with the Histogram showing red, this is when to take a short or sell position.



To filter out false crosses or trades, this is where I recommend the MTF stoch or RSI, taking trades on the MacD when the Stoch or RSI is showing signs of overbought or oversold areas. These provide the strongest signals and buy and sell positions.

This is recommended as a swing indicator, but can be used for scalping at your own risk.

As for recommended time frames to use for the MTF settings, I would stick to longer timeframes to show the overall trend. With that being said, it can be used on shorter timeframes as well and works good. I would sick to the 1hr or 4hr timeframes, and for lower I recommend the 15min or 30min timeframes.

The lower you go the more signals will be provided, but with that lots more false signals will show as well if the asset is volatile.


All settings, colors, and plots can be customized, and all are labeled to make it easy for you.


Alerts
for each setting will be added in the future for simplicity, as of now the alerts can be made as usual, having the indicator plot MacD crossing the indicator plot Signal, telling you of a change in the MacD.


This can be a very useful indicator, and I'm sure some may find settings that work even better than the default or recommended settings.



This indicator works on all markets, forex, cryptocurrency, and stocks.


For access to this and all indicators available, please DM me here or See profile.

We are here to help each other succeed! The more one succeeds the more we all succeed! We are all in this
together and every person deserves to be financially independent and confident when taking trades
and investing.
Moving Average Convergence / Divergence (MACD)macdcrossmtfredwoodredwoodindicatorsTrend AnalysisVolatility

초대 전용 스크립트

이 스크립트에 대한 접근은 작성자가 승인한 사용자로 제한되며, 일반적으로 지불이 필요합니다. 즐겨찾기에 추가할 수 있지만 권한을 요청하고 작성자에게 권한을 받은 후에만 사용할 수 있습니다. 자세한 내용은 REDW00D에게 문의하거나 아래의 작성자의 지시사항을 따르십시오.

트레이딩뷰는 스크립트 작성자를 100% 신뢰하고 스크립트 작동 원리를 이해하지 않는 한 스크립트 비용을 지불하고 사용하는 것을 권장하지 않습니다. 대부분의 경우 커뮤니티 스크립트에서 무료로 좋은 오픈소스 대안을 찾을 수 있습니다.

작성자 지시 사항

차트에 이 스크립트를 사용하시겠습니까?

경고: 액세스를 요청하기 전에 읽어 보시기 바랍니다.

또한 다음에서도:

면책사항