MACD Format, Triggers, Scan, Label, Watchlist For ThinkOrSwim

[LLP]

i don't like changing the background color. can't see the bars, to see what is going on.
this has 3 options for drawing things when macd crosses zero
.. draw vertical line
.. change background color
.. draw a column of color between 2 bars

#macd_cross_zero

# do things when macd crosses zero
#  draw vertical line
#  change background color
#  draw a column of color between 2 bars


DefineGlobalColor("up", color.cyan);
DefineGlobalColor("dwn", color.yellow);
#NinetyPercent.SetDefaultColor(GlobalColor("up");

def na = double.nan;

def lvl = 0;
def v = macd().value;
def xup = v crosses above lvl;
def xdwn = v crosses below lvl;

def top = double.positive_INFINITY;
def bot = double.negative_INFINITY;

input change_back_color = yes;
AssignBackgroundColor(if !change_back_color then color.current else if xup then GlobalColor("up") else if xdwn then GlobalColor("dwn") else color.current);


# draw cloud between 2 bars , when a crossing
input cloud_columns = yes;
def cldtop = if !cloud_columns then na else if xup[-1] or xup then double.POSITIVE_INFINITY else na;
def cldbot = if !cloud_columns then na else if xdwn[-1] or xdwn then double.negative_INFINITY else na;
addcloud(cldtop, bot, GlobalColor("up"));
addcloud(top, cldbot, GlobalColor("dwn"));


input vert_lines = yes;
addverticalline(vert_lines and xup, "-", GlobalColor("up"));
addverticalline(vert_lines and xdwn, "-", GlobalColor("dwn"));
#

Perfect, but can you make it PARAMETER changeable ? also color changeable?

 

[autolox]

This is an adaptation I made on the MACD reflecting two separate MACD's:

Given that the typical MACD is normally by default calculating off the close, I decided to check out calculating by high and low instead.

Naturally the next step was seeing how it would work as an oscillator with the HIGH and LOW showing at the same time.

The initial view was messy as you may imagine. To mitigate this, I simply averaged the two MACD lines into a single, then put them together.

Enjoy!

declare lower;

input MACD_type = {default SLOW, "FAST"};
input averagetype = averageType.EXPONENTIAL;
input avglookback = 89;

def fastlength;
def slowlength;
def MACDlength;
 
switch (MACD_Type) {
case SLOW:
    fastlength = 33;
    slowlength = 100;
    MACDlength = 13;

case FAST:
    fastlength = 12;
    slowlength = 26;
    MACDlength = 9;
}

### HIGH MACD ###

def highdata = -high;
def HIGHValue = MovingAverage(averageType, HIGHdata, fastLength) - MovingAverage(averageType, HIGHdata, slowLength);
def HIGHAvg = MovingAverage(averageType, HIGHValue, MACDLength);
plot HIGHaverage = (HIGHvalue+highavg)/2;
highaverage.setdefaultcolor(createcolor(255,103,20));

### LOW MACD ###

def lowdata = low;
def LOWValue = MovingAverage(averageType, LOWdata, fastLength) - MovingAverage(averageType, LOWdata, slowLength);
def LOWAvg = MovingAverage(averageType, LOWValue, MACDLength);
plot LOWaverage = (LOWvalue+LOWavg)/2;
lowaverage.setdefaultcolor(createcolor(50,201,86));

plot zeroline = 0;
zeroline.setdefaultcolor(createcolor(212,212,212));
zeroline.setlineweight(2);
zeroline.hidetitle();

### BUY LEVELS GRID

def chartlow = lowest(lowaverage,avglookback);
def charthigh = highest(highaverage,avglookback);

plot stageonebuy = chartlow/3;
stageonebuy.setdefaultcolor(createcolor(50,201,86));
stageonebuy.hidetitle();
plot stagethreebuy = chartlow;
stagethreebuy.setdefaultcolor(createcolor(0,51,204));
stagethreebuy.hidetitle();
plot stagetwobuy = (stageonebuy+stagethreebuy)/2;
stagetwobuy.setdefaultcolor(createcolor(0,153,255));
stagetwobuy.hidetitle();
plot stage25 = (stagethreebuy + stagetwobuy)/2;
stage25.setdefaultcolor(color.yellow);
stage25.hidetitle();

### SELL LEVELS GRID

plot stageonesell = charthigh/3;
stageonesell.setdefaultcolor(createcolor(255,103,20));
stageonesell.hidetitle();
plot stagethreesell = charthigh;
stagethreesell.setdefaultcolor(createcolor(255,226,66));
stagethreesell.hidetitle();
plot stagetwosell = (stageonesell+stagethreesell)/2;
stagetwosell.setdefaultcolor(createcolor(255,153,0));
stagetwosell.hidetitle();

 

[MerryDay]

A discord member requested a watchlist column of MACD oversold
Here is a watchlist script that paints a column red is the MACD is less than zero.

def nMACD = MACD();

AddLabel(yes, nmacd,
if nmacd<0 then color.white else color.black );
AssignBackgroundColor(
if nmacd < 0 then color.dark_red else color.gray);

This watchlist has minimal analytical value.
Members are encouraged to consider using/modifying a watchlist more along these lines:
https://usethinkscript.com/threads/...list-for-thinkorswim.7745/page-11#post-118196