BenMACD Wilders LTF (Learning to Fish) PTBH (Paid By The Hour)

5 jul 2022

Howdy folks!

The study/script is based on Wilders MACD, and has its roots in "Learning to Fish", and "Paid by The Hour", made popular by Daniel on Twitter. This takes Daniel's work a step further.

As stated, this MACD Wilders based study. By using this script in TradingView you can take guesswork out of the "curls" and "I think it's curling up? Let me check the blue line and subtract..." Forget all that. This study alerts you with big red arrows and big green arrows, and a banner and a message. And it makes sounds. Alert for bullish and a different sound for bearish.

This study is timeframe and instrument agnostic. Use it to daytrade, swing trade, or trade pairs. I've personally found a lot of success using this, trading pairs (SQQQ/TQQQ or TNZ/TZA, for example) on the 5m and 15m intervals. It's also been very accurate on PBTH using stocks like SQ or BX.

With arrows showing the MACD curl, it makes trading a lot easier.

Also included are 4 built in alert conditions:

• upsignal - A bullish alert for 1 bar on the MACD.
  
• upsignalconfirm - A bullish alert on 2 consecutive bars on the MACD. Confirmation alert.
  
• downsignal - A bearish alert for 1 bar on the MACD.
  
• downsignalconfirm - A bearish alert on 2 consecutive bars on the MACD. Confirmation alert.
  

I can help setup alerts for you if need be, or if you're fluent in TradingView, you're welcome to do that yourself. The premise here, is that the upsignal is a bullish indicator (and is indicated with a green up arrow on the BenMACD chart) and the downsignal is a bearish indicator (and is indicated with a red down arrow on the BenMACD chart).

The upsignalconfirm and downsignal confirm and alerts built into the code. The alerts themselves will have to be created, but they're already here for easy reference and installation.

5 jul 2022

Notas de prensa

Added green and red flags for confirmation.

6 jul 2022

Notas de prensa

Updated MACD line to change from red to green and back when it flips.

6 jul 2022

Notas de prensa

Fixed colors

6 jul 2022

Notas de prensa

Made green bright on MACD line

6 jul 2022

Notas de prensa

arrows brighter green.

7 jul 2022

Notas de prensa

Changed the bar setting from "open" price to "close" price.

7 jul 2022

Notas de prensa

Removed flags for confirmation, seeing adding in a color changing MACD line addresses the same thing. Also cleans up the chart.

7 jul 2022

Notas de prensa

touchups

8 jul 2022

Notas de prensa

Updated alerting messaging.

11 jul 2022

Notas de prensa

Darkened the arrows to delineate from the histogram.

11 jul 2022

Notas de prensa

Code comments only.

18 ago 2023

Notas de prensa

updated to version 5, and added zero line.