MACD Breakout SuperCandles

MACD Breakout SuperCandles

The MACD Breakout SuperCandles indicator is a candle-coloring tool that monitors trend alignment across multiple timeframes using a combination of MACD behavior and simple price structure. It visually reflects market sentiment directly on price candles, helping traders quickly recognize shifting momentum conditions.

How It Works

The script evaluates trend behavior based on:

- Multi-timeframe MACD Analysis: Uses MACD values and signal line relationships to gauge trend direction and strength.
- Price Relative to SMA Zones: Analyzes whether price is positioned above or below the 20-period high and low SMAs on each timeframe.

For each timeframe, the script assigns one of five possible trend statuses:

- SUPERBULL: Strong bullish MACD signal with price above both SMAs.
- Bullish: Bullish MACD crossover with price showing upward bias.
- Basing: MACD flattening or neutralizing near zero with no directional dominance.
- Bearish: Bearish MACD signal without confirmation of stronger trend.
- SUPERBEAR: Strong bearish MACD signal with price below both SMAs.
-Ghost Candles: Candles with basing attributes that can signal directional change or trend strength.

Signal Scoring System

The script compares conditions across four timeframes:

- TF1 (Short)
- TF2 (Medium)
- TF3 (Long)
- MACD at a fixed 10-minute resolution

Each status type is tracked independently. A colored candle is only applied when a status type (e.g., SUPERBULL) reaches the minimum match threshold, defined by the "Min Status Matches for Candle Color" setting. If no status meets the required threshold, the candle is displayed in a neutral "Ghost" color.

Customizable Visuals

The indicator offers full control over candle appearance via grouped settings:

Body Colors
- SUPERBULL Body
- Bullish Body
- Basing Body
- Bearish Body
- SUPERBEAR Body
- Ghost Candle Body (used when no match)

Border & Wick Colors
- SUPERBULL Border/Wick
- Bullish Border/Wick
- Basing Border/Wick
- Bearish Border/Wick
- SUPERBEAR Border/Wick
- Ghost Border/Wick

Colors are grouped by function and can be adjusted independently to match your chart theme or personal preferences.

Settings Overview

- TF1, TF2, TF3: Select short, medium, and long timeframes to monitor trend structure.
- Min Status Matches: Set how many timeframes must agree before a candle status is applied.
- MACD Settings: Customize MACD fast, slow, and signal lengths, and choose MA type (EMA, SMA, WMA).

This tool helps visualize how aligned various timeframe conditions are by embedding sentiment into the candles themselves. It can assist with trend identification, momentum confirmation, or visual filtering for discretionary strategies.