Author Message:
Level: 3
Background
Use Jurik MA to build MACD and many people need to judge the market trend against the main candlestick chart when using MACD .
Function
First of all, the MACD function is built with Jurik MA and ALMA for better performance.
Second, the principle of MACD is the difference between EMA's long-term and short-term values. So, I wonder if it is possible to use EMA to construct a set of candle charts that are similar in proportion to MACD values for overlapping comparisons? Because this can greatly facilitate traders to make quick trend judgments. So I used the 3-8 lines of EMA to simulate the KD of KDJ, constructed a set of candle charts, and generated buying and selling points through conditional constraints. Do you like this MACD + Candlestick chart?
Key Signal
Traditional Jurik MACD output signal
Candlesticks
Near Top --> Top is reached and reversal may happen soon. (fuchsia labels)
Near Bottom --> Bottom is reached and reversal may happen soon. (yellow labels)
CODE:
CSS:
#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © blackcat1402
#indicator('[blackcat] L3 Jurik MACD', overlay=false,
#Converted and modifiedTrueRange by Sam4Cok@Samer800 - 01/2023
declare lower;
input ColorSignalBar = yes;
input Bubbles = yes;
input SignalLine = yes;
input MovAvgCandles = yes;
input ShowHistogram = yes;
input source = hl2;
input fastlen = 12;
input slowlen = 26;
input siglen = 9;
def na = Double.NaN;
script nz {
input data = close;
input repl = 0;
def ret_val = if IsNaN(data) or !data then repl else data;
plot return = ret_val;
}
#barssince(Condition) =>
script barssince {
input Condition = 0;
def barssince = if Condition then 1 else barssince[1] + 1;
plot return = barssince;
}
#pine_alma(series, windowsize, offset, sigma) =>
script ALMA {
input series = close;
input windowsize = 9;
input Offset = 0.85;
input Sigma = 6;
def m = Offset * (windowsize - 1);
def s = windowsize / Sigma;
def norm = fold z = 0 to windowsize with CW do
CW + Exp(-(Sqr(z - m)) / (2 * Sqr(s)));
def sum = fold y = 0 to windowsize with WS do
WS + Exp(-(Sqr(y - m)) / (2 * Sqr(s))) * GetValue(series, windowsize - 1 - y);
plot ALMA = sum / norm ;
}
#jma(source, period, phase, power) =>
script jma {
input source = close;
input period = 10;
input phase = 0;
input power = 1;
def phaseRatio = if phase < -100 then 0.5 else
if phase > 100 then 2.5 else phase / 100 + 1.5;
def beta = 0.45 * (period - 1) / (0.45 * (period - 1) + 2);
def alpha = Power(beta, power);
def jma;
def e0;
def e1;
def e2;
e0 = (1 - alpha) * source + alpha * nz(e0[1],source) ;
e1 = (source - e0) * (1 - beta) + beta * e1[1];
e2 = (e0 + phaseRatio * e1 - jma[1]) * Sqr(1 - alpha) + Sqr(alpha) * e2[1];
jma = e2 + jma[1];
plot return = jma;
}
def dif = jma(source, fastlen, 0, 1.0);
def de = jma(source, slowlen, 0, 1.0);
def diff = (dif - de);
def dea = alma(diff, siglen, 0.85, 6);
def histo = (diff - dea) * 2;
#//plot MACD
def pdiff = diff;
def pdea = dea;
AddCloud(if SignalLine then pdiff else na, pdea, Color.YELLOW, CreateColor(224,64,251), yes);
#//define MACD histogram
def difMac = histo;
def ghist = difMac * 2;
def pos_ghist = Max(0, ghist);
def neg_ghist = Min(0, ghist);
def currhist = ghist[0];
def prevhist = ghist[1];
def plotColor = if !ShowHistogram then na else
if ghist > 0 then
if currhist > prevhist then 2 else 1 else
if currhist < prevhist then -2 else -1;
#//plot MACD histogram
AddChart(high = if plotColor == 2 then pos_ghist else na, low = 0, open = pos_ghist, close = 0,
type = ChartType.CANDLE, growcolor = Color.GREEN);
AddChart(high = if plotColor == 1 then pos_ghist else na, low = 0, open = pos_ghist, close = 0,
type = ChartType.CANDLE, growcolor = Color.DARK_GREEN);
AddChart(high = 0, low = if plotColor == -2 then neg_ghist else na, open = 0, close = neg_ghist,
type = ChartType.CANDLE, growcolor = Color.RED);
AddChart(high = 0 , low = if plotColor == -1 then neg_ghist else na, open = 0, close = neg_ghist,
type = ChartType.CANDLE, growcolor = Color.DARK_RED);
#// Mov Avg Candles
def _c = ExpAverage(close, 3) - ExpAverage(close, 8);
def _o = ExpAverage(open, 3) - ExpAverage(open, 8);
def _h = ExpAverage(high, 3) - ExpAverage(high, 8);
def _l = ExpAverage(low, 3) - ExpAverage(low, 8);
def long = (if histo > 0 then (_c crosses above dea) else (_c crosses above diff)) or _c > _o and (_c crosses above 0);
def short = if histo > 0 then (_c crosses below diff) else (_c crosses below dea) or _c < _o and (_c crosses below 0);
def up = _c >= _o;
AddChart(high = if up and MovAvgCandles then _h else na, low = _l, open = _c, close = _o,
type = ChartType.CANDLE, growcolor = Color.CYAN);
AddChart(high = if up or !MovAvgCandles then na else _h, low = _l, open = _o, close = _c,
type = ChartType.CANDLE, growcolor = Color.BLUE);
#//Top and Bottom Warnings
def CrossUp = crosses(diff,dea,CrossingDirection.ABOVE);
def CrossDn = crosses(diff,dea,CrossingDirection.BELOW);
def a1 = barssince(CrossUp)[1];
def a2 = barssince(CrossDn)[1];
def diffVal1 = GetValue(diff,a1+1);
def CloVal1 = GetValue(close,a1+1);
def diffVal2 = GetValue(diff,a2+1);
def CloVal2 = GetValue(close,a2+1);
def bottom_zone = (CloVal1>close) and (diff>diffVal1) and CrossUp;
def top_zone = (CloVal2<close) and (diffVal2>diff) and CrossDn;
#/ Plot labels
AddChartBubble(Bubbles and top_zone, dea + 0.01, "Near Top", Color.MAGENTA, yes);
AddChartBubble(Bubbles and bottom_zone, diff - 0.01, "Near Bottom", Color.YELLOW, no);
# -- Sig Bar Colr
AssignPriceColor( if !ColorSignalBar then Color.CURRENT else
if top_zone then Color.MAGENTA else
if bottom_zone then Color.CYAN else Color.CURRENT);
#-- END CODE
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