OPEN-SOURCE SCRIPT
MACD + RSI Overlay
MACD + RSI Overlay Indicator
The MACD + RSI Overlay Indicator is a powerful tool that combines the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) into a single, user-friendly view. This indicator enhances trend and momentum analysis by dynamically changing the MACD line and Signal line colors based on RSI levels, while keeping the MACD histogram visible for momentum visualization.
Key Features:
✅ MACD Line, Signal Line, and Histogram – Provides a clear view of momentum shifts and trend direction.
✅ RSI-Based Dynamic Coloring –
If RSI > Overbought Level (default 70) → MACD & Signal Line turn bearish colors (red/orange).
If RSI < Oversold Level (default 30) → MACD & Signal Line turn bullish colors (green/aqua).
Otherwise, MACD lines remain neutral colors.
✅ Momentum Visualization – The MACD Histogram remains visible to indicate bullish/bearish momentum changes.
✅ Overbought/Oversold Highlighting – Subtle background shading when RSI enters extreme levels.
✅ Fully Customizable – Adjust MACD (fast, slow, signal), RSI (length, thresholds), and color settings.
✅ Separate Indicator Pane – Displays in its own pane for a clean and organized charting experience.
Use Cases:
📊 Day & Swing Traders – Spot momentum shifts and overbought/oversold conditions at a glance.
📈 Trend Followers – Confirm trend direction using MACD momentum and RSI strength.
⚡ Reversal Traders – Identify potential trend reversals based on MACD turning points + RSI extremes.
🚀 Gain deeper insights into momentum shifts and trend strength with the MACD + RSI Overlay Indicator!
The MACD + RSI Overlay Indicator is a powerful tool that combines the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) into a single, user-friendly view. This indicator enhances trend and momentum analysis by dynamically changing the MACD line and Signal line colors based on RSI levels, while keeping the MACD histogram visible for momentum visualization.
Key Features:
✅ MACD Line, Signal Line, and Histogram – Provides a clear view of momentum shifts and trend direction.
✅ RSI-Based Dynamic Coloring –
If RSI > Overbought Level (default 70) → MACD & Signal Line turn bearish colors (red/orange).
If RSI < Oversold Level (default 30) → MACD & Signal Line turn bullish colors (green/aqua).
Otherwise, MACD lines remain neutral colors.
✅ Momentum Visualization – The MACD Histogram remains visible to indicate bullish/bearish momentum changes.
✅ Overbought/Oversold Highlighting – Subtle background shading when RSI enters extreme levels.
✅ Fully Customizable – Adjust MACD (fast, slow, signal), RSI (length, thresholds), and color settings.
✅ Separate Indicator Pane – Displays in its own pane for a clean and organized charting experience.
Use Cases:
📊 Day & Swing Traders – Spot momentum shifts and overbought/oversold conditions at a glance.
📈 Trend Followers – Confirm trend direction using MACD momentum and RSI strength.
⚡ Reversal Traders – Identify potential trend reversals based on MACD turning points + RSI extremes.
🚀 Gain deeper insights into momentum shifts and trend strength with the MACD + RSI Overlay Indicator!
Skrip sumber terbuka
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 publications is governed by House rules. Anda boleh menyukainya untuk menggunakannya pada carta.
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Penafian
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