Range Filter Oscillator - MACD Style [DW]

https://www.tradingview.com/x/484YkuDg/FIRST I want too give full credit to DonovanWall on tradingview. I simply used Grok to make a MACD version, which in my opinion makes it 2 or 3x as powerful! Although I'm not generally a fan of MACD, his indicator is hugely complimented by it. It's better than the normal MACD.

----------------------------------------------------------------------------

The **Range Filter Oscillator - MACD Style [DW]** is a technical indicator that helps traders identify trends and potential buy or sell signals. It works by smoothing price movements to filter out noise and focuses on significant price changes.

Here's how it works in simple terms:

1. **Range Filter**: It calculates a dynamic range around the price, based on user settings (like ATR, price percentage, or ticks). Prices moving outside this range are considered significant.

2. **Oscillator**: It measures how far the current price is from the filtered price, creating a value that swings above or below zero, like an oscillator.

3. **MACD-Style**: It compares the oscillator (fast line) to its smoothed version (slow line, using a simple moving average). The difference between them forms a **histogram**, which shows momentum:
- **Positive histogram** (green): Upward momentum, suggesting a buy signal.
- **Negative histogram** (red): Downward momentum, suggesting a sell signal.

4. **Crossovers**: When the fast line crosses above the slow line, it indicates a potential buy. When it crosses below, it suggests a sell.

5. **Bar Colors**: The chart bars turn green for bullish signals, red for bearish, and gray for neutral, making it easy to spot trend changes.

This indicator is great for spotting trends while ignoring minor price fluctuations, and its MACD-style visuals make it intuitive for traders familiar with momentum indicators.https://www.tradingview.com/x/ezgFlpcH/