Median Convergence Divergence For ThinkOrSwim

mbarcala

Active member
Another nice Indicator, Media Convergence Divergence or MCD converted to TOS. Enjoy!
Original Link: https://www.tradingview.com/script/odyzZlzU-Median-Convergence-Divergence/

Photo
https%3A//i.imgur.com/DZ4ZsrC.png[/img]']
DZ4ZsrC.png


Script
Code:
#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © maksumit, @version=5
#Median Convergence Divergence - MCD converted to TOS by mbarcala
#TradingView: https://www.tradingview.com/script/odyzZlzU-Median-Convergence-Divergence/

declare lower;

input fast = 5;
input slow = 20;
input signal = 6;

#//Median, Median Convergence Divergence, Signal and Histogram
def medianF = MedianAverage(close, fast);
def medianS = medianAverage(close, slow);

plot mcd = medianF - medianS;
mcd.SetDefaultColor(Color.CYAN);
mcd.SetLineWeight(2);

plot mcds = MedianAverage(mcd, signal);
mcds.SetDefaultColor(Color.DARK_ORANGE);
mcds.SetLineWeight(2);

plot hist = mcd - mcds;
hist.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
hist.AssignValueColor(if hist < hist[1] and hist > 0 then Color.DARK_GREEN else if hist > 0 then Color.LIME else if hist > hist[1] then Color.VIOLET else Color.RED);

plot cline = 0;
cline.SetDefaultColor(Color.GRAY);
 

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Please explain the colors in the histogram. Glad you converted the script!
 

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
310 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top