MACD 4C
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4 Coloured MACD
lime = positive rising
green = positive descending
red = positive rising
maroon = positive descending
lime = positive rising
green = positive descending
red = positive rising
maroon = positive descending
study(shorttitle = "MACD 4C", title = "4 colour MACD")
fastMA = input(title="Fast moving average", type = integer, defval = 12, minval = 7)
slowMA = input(title="Slow moving average", type = integer, defval = 26, minval = 7)
lastColor = yellow
[currMacd,_,_] = macd(close[0], fastMA, slowMA, 9)
[prevMacd,_,_] = macd(close[1], fastMA, slowMA, 9)
plotColor = currMacd > 0
? currMacd > prevMacd ? lime : green
: currMacd < prevMacd ? maroon : red
plot(currMacd, style = histogram, color = plotColor, linewidth = 3)
plot(0, title = "Zero line", linewidth = 1, color = gray)
Alternatively, Click on indicators and type MACD 4C, it will pop up and Click on it, and done you have it on your chart.
This is specifically written for TradingView and uses their scripting language (PineScript).
So this specific version is not available for MT4.