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MACD Oscillator with RSI

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This is simply MACD Histogram and RSI with SMA and Divergence signals in one indicator. Nothing is special.

But, let me tell you how I use this.

1. Pair it with EMA Length 44 (I don't trade in EMA crossover, so forget about it, it's not working. Let's use EMA 44 instead as a magnet).
2. View the 4H TF.
3. If taking SHORT, candles must be above EMA 44 showing enough gap or space, and this is better if candles are around the resistance levels.
4. Then wait for the RSI to cross the SMA, and MACD Histogram to turn into black. Once this happens, forget about 4H.
5. Now, we're making entry in lower TF. So go to 15Min and read the Market Structure by plotting BOS and CHOCH, or use some indicators that automatically plot them.
6. Once the CHOCH appears, which is your confirmation of the downtrend, wait for a pullback, then use this indicator again to make entry.

I usually hold my position around 4H, 8H or 1D.

If this is not working, then nothing works.
Sürüm Notları
Modified some important inputs.
Sürüm Notları
Updated the RSI.
Sürüm Notları
Changed SMA length to 21 and RSI to 9.
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I changed back the hline to normal setting.
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I put an alert condition.
Sürüm Notları
Defined the condition for the color change.
Sürüm Notları
Fixed the alert option.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.