This script is an interesting take on Convergence and Divergence of Moving Averages. With the built-in MACD Indicator, you cannot make these adjustments to the settings.
DESCRIPTION The top Moving Average is calculated on the High of the candle. The bottom Move Average is calculated on the Low of the candle. If the two are moving apart (Divergence), the shaded area between them turns Green. If the two are moving together (Convergence), the shaded area between them turns Red. This may help identify when a trend is becoming stronger or weaker, based on the shaded area and Moving Average direction.
POSSIBLE USAGE For example: If the MA's are pointing downward and the shaded area is Green - it means that average distance between the candle High and Low is getting wider, which may indicate a stronger downward movement. Then, when the shaded area turns Red, signaling the average distance between the candle High and Low are getting narrower, this may indicate that the downward movement is weakening, and may be the end of that downward trend.
SETTINGS You can choose from EMA, SMA, WMA, RMA, HMA, TMA, and VWMA. Although you can choose the MA Source, it is highly recommended to keep one source on the High of the candle and the other on the Low of the candle, for measure Convergence and Divergence. All indicator settings are editable. It can be used on Multi Timeframes (MTF).
Dengan semangat TradingView yang sesungguhnya, penulis skrip ini telah menerbitkannya sebagai sumber terbuka, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk penulisnya! Anda dapat menggunakannya secara gratis, namun penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk digunakan pada chart
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.