MACD Overlay In main chart

7 Ogo

# MACD Overlay Indicator

## Overview
This indicator displays MACD (Moving Average Convergence Divergence) signals directly on the price chart without creating a separate window. It shows the momentum and trend changes through simple + and - symbols positioned relative to candlesticks.

## Features
- **Overlay Display**: Shows MACD information on the main price chart
- **Clean Interface**: Uses minimal + and - symbols instead of complex charts
- **Position Logic**: Symbol placement indicates MACD position relative to zero line
- **Energy Analysis**: Symbols represent histogram energy changes (absolute value)
- **Color Coding**: Different colors for golden cross and death cross signals

## Symbol Meaning

### Position Logic
- **Above Candlesticks**: MACD is above zero line (bullish territory)
- **Below Candlesticks**: MACD is below zero line (bearish territory)

### Symbol Meaning
- **+ Symbol**: MACD histogram absolute value is increasing (momentum strengthening)
- **- Symbol**: MACD histogram absolute value is decreasing (momentum weakening)

### Color Coding
- **Yellow**: Golden cross (MACD line above signal line)
- **Red**: Death cross (MACD line below signal line)

## Settings
- **Fast Length**: Default 12 (EMA fast period)
- **Slow Length**: Default 26 (EMA slow period)
- **Signal Smoothing**: Default 9 (Signal line period)
- **Oscillator MA Type**: EMA or SMA for MACD calculation
- **Signal Line MA Type**: EMA or SMA for signal line

## How to Use
1. **Trend Identification**:
- Symbols above candlesticks = Bullish MACD territory
- Symbols below candlesticks = Bearish MACD territory

2. **Momentum Analysis**:
- + symbols = Momentum is strengthening
- - symbols = Momentum is weakening

3. **Signal Confirmation**:
- Yellow symbols = MACD above signal line (bullish signal)
- Red symbols = MACD below signal line (bearish signal)

## Advantages
- **Space Efficient**: No separate indicator window required
- **Clean Chart**: Maintains price chart clarity
- **Quick Analysis**: Instant visual feedback on MACD status
- **Non-Intrusive**: Doesn't alter candlestick colors or backgrounds

## Best Practices
- Use in conjunction with price action analysis
- Combine with other technical indicators for confirmation
- Pay attention to symbol color changes for trend shifts
- Monitor symbol position changes for momentum shifts

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*This indicator provides a simplified way to monitor MACD signals without cluttering your chart with additional windows.*

7 Ogo

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