4 Coloured MACD
lime = positive rising
green = positive descending
red = positive rising
maroon = positive descending
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study(shorttitle = "MACD 4C", title = "4 colour MACD")
fastMA = input(title="Fast moving average", type = integer, defval = 12, minval = 7)
slowMA = input(title="Slow moving average", type = integer, defval = 26, minval = 7)
lastColor = yellow
[currMacd,_,_] = macd(close[0], fastMA, slowMA, 9)
[prevMacd,_,_] = macd(close[1], fastMA, slowMA, 9)
plotColor = currMacd > 0 
    ? currMacd > prevMacd ? lime : green 
    : currMacd < prevMacd ? maroon : red
plot(currMacd, style = histogram, color = plotColor, linewidth = 3)
plot(0, title = "Zero line", linewidth = 1, color = gray)
Alternatively, Click on indicators and type MACD 4C, it will pop up and Click on it, and done you have it on your chart.
+3 Responder
mashiledr TheFXtradingToolz
@TheFXtradingToolz, im failing to get macd 4c
+1 Responder
How do I get this indicator in my MT4 platform ?
+3 Responder
vkno422 Joe_555
@Joe_555, There are different MACD's available for MT4.
This is specifically written for TradingView and uses their scripting language (PineScript).
So this specific version is not available for MT4.
Joe_555 vkno422
@vkno422, I manage to download Histogram MACD indicator for MT4 and the settings are 12, 26,9 (similar to your settings) , but it look very different from how it appears in TradingView. Any reason why? or is there any setting that I got it wrong, appreciate your feedback
vkno422 Joe_555
@Joe_555, Most likely it is that I am showing the MACD as histogram. Most MACD's show the MACD as a line.
Thanks Victor
Good Job
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