This is an overlay indicator which uses the classic period settings and signals from the MACD (Moving Average Convergence/Divergence) indicator to overlay a heatmap using all the information the MACD generates with its three periods (12,26,9).
The first two moving averages which the MACD uses (12 and 26) can be plotted on the chart like usual EMAs.
In addition to the background color function (the heatmap) and the EMAs, there is an optional bar color alert when the uptrend or the downtrend as measured by the MACD appears to be very strong.
Hi @ChartArt - I notice that the EMA lines on this overlay do not match the ones in the default MACD indicator that tradingview provides. The EMA's seem to be calculated differently?
wyj152822
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how to set alerts
bigrockstar
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does this indicator repaint?
cooney_s
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Nice work ChartArt ! That's a new one to Trading View. Impressive creativity.
Hociemocie
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wow! thanks!!
smartd2016
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Awesome indicator with early entries!!!!
Secondview
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@ChartArt can i know what you use for your background Candle color etc if i want to have the same graphic design! thanks