Improved Moving Average Convergence/Divergence
Simple change to the standard MACD formula I like to use that slow it down and reduces the amount of false signals while allowing strong/good signals through,
study(title="Improved Moving Average Convergence/Divergence", shorttitle="Improved MACD") source = close fastLength = input(24, minval=1), slowLength=input(52,minval=1) signalLength=input(9,minval=1) fastMA = ema(source, fastLength) slowMA = ema(source, slowLength) macd = fastMA - slowMA signal = sma(macd, signalLength) hist = macd - signal plot(hist, color=red, style=histogram) plot(macd, color=blue) plot(signal, color=orange)