So I created the MACD Cross Strategy but not working alone by itself. I added EMA (Exponential Moving Average) filter to improve its winning rate so the MACD Signal only appears when in the same trend direction as Moving Average.
The Main Rules for Long Signal are: - MACD Main Line Crossover the MACD Signal Line. - The crossover happens below the MACD center line (0) so the momentum is strong. - Price above the EMA 200 so it means the market is in a strong uptrend.
The Main Rules for Short Signal are : - MACD Main Line Crossunder the MACD Signal Line. - The crossover happens above the MACD center line (0) so the momentum is strong. - Price below the EMA 200 so it means the market is in a strong downtrend.
The signal crossover & signal alert only generate as per the following rules above.
excellent script thank you very much andryrads for your work however I was missing the time frame option if anyone else is missing the timeframe option for this code just add (timeframe = " ",timeframe_gaps = true) inside the indicator to add the timeframe option so u can check what is happening in the higher timeframe or lower which ever suits u best
PAREAL
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@UnknownUnicorn41446308, good addition
mildEggs50225
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@UnknownUnicorn41446308, sorry where do you add this
dashatgeknallt
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Hello and thanks for this good alert indicator. however, it sometimes triggers too early or sometimes too late. once also, it didn't register as the macd lines were above the center line, even though the real macd indicated the lines were below the center line. how can I set the indicator to use exactly that of macd for the alarms? I use the EMA 200 and MACD 12, 26, 9
manna2020
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@dashatgeknallt, I checked out the indicator and it sometimes alerts right on the zero line but most of the time it is spot on below the zero line, never above it. Of course on candle close you will see the alert on your log 1 candle later. I also use the 200ema but the macd I use is 8,21,5. Can't believe more people don't use it. If people REALLY understood the macd, many more would use this great indicator. Thanks to the creator.