The Elastic Volume Weighted MACD is a variation of standard MACD.
The Difference is that this script apply the formula of standard MACD with the Elastic Volume Weighted Moving Average.
I took the formula of EVWMA from public library coded by LazyBear.
I use EVWMACD as a trend confirmation indicator.
Just tune all lengths and parameters according to your instruments
Volume-Weighted MACD Indicator. You can turn volume-weighted off to get "regular" MACD, and you can change the scaling of the histogram to make it stand out more.
This MACD/Histogram indicator helps me to identify divergences and crosses without much effort.
The MACD line is green during a positive cross, and red during a negative.
My favourite feature is the following: when the histogram changes direction, the histogram bars become yellow, which should help you locate divergences without straining yourself.
Example:...
So here in this model I take the RSI-cumulative net volume and convert it to MACD
I think it look nicer then original but it just idea:)
for different time frame just change setting:)
The MACD indicator can produce some powerful divergence signals which can be useful confirmation for entering / exiting a trade.
This indicator generates and alert and plots (if enabled), when a divergence is detected. For example, if bullish (above zero) and two bearish MACD crosses are detected with the second being lower than the first, a bearish divergence...
One simple indicator for volatility, divergence and relative momentum
Features:
- Normalized MACD (by slow MA)
- Candle MACD (fast MA length is set to 0 in candle mode, i.e. price minus slow MA)
- Multi color histogram
- Background coloring based on MACD direction
- Choice of different MA types (Exponential, Simple, Weighted, Smoothed, Triple EMA)
- Triple EMA...
At default settings, this indicator is identical to the built-in MACD.
Features:
- multi-color histogram
- background color change when MACD tops or bottoms
- additional smoothing using Triple EMA
Recommended settings:
- Triple EMA length 10 seem to be a good trade-off between smoothness and responsiveness
![BTCUSD: Multi Color Normalized MACD + Candles (NMACD) [cI8DH]](https://s3.tradingview.com/1/1O8ebCiB_mid.png "Multi Color Normalized MACD + Candles (NMACD) [cI8DH]")
![BTCUSD: Multi color MACD with Triple EMA smoothing [cI:DH]](https://s3.tradingview.com/v/VtVz3Wj7_mid.png "Multi color MACD with Triple EMA smoothing [cI:DH]")