displaying the MACD Histogram color and divergences across multiple timeframes. Here's how it works step by step:
1. Setting the Table Position The script allows the user to choose where the table will be placed using the positionOption input. The three options are:
Top Right Top Left Top Center Depending on the selected option, the table is created at the corresponding position.
2. Creating the Table A table (macdTable) is created with 8 columns (for different timeframes) and 3 rows (for different data points).
3. MACD Histogram Color Function (f_get_macd_color) This function calculates the MACD line, signal line, and histogram for a given timeframe. The histogram (histLine) is used to determine the cell background color: Green if the histogram is positive. Red if the histogram is negative. 4. Divergence Detection Function (f_detect_divergence) This function looks for bullish and bearish divergences using the MACD histogram:
Bullish Divergence (🟢) The price makes a lower low. The MACD histogram makes a higher low. Bearish Divergence (🔴) The price makes a higher high. The MACD histogram makes a lower high. The function returns:
🟢 (green circle) for bullish divergence. 🔴 (red circle) for bearish divergence. "" (empty string) if no divergence is detected. 5. Populating the Table The table has three rows for each timeframe:
First row: Displays the timeframe labels (5m, 15m, 30m, etc.). Second row: Shows MACD Histogram color (red/green). Third row: Displays divergences (🟢/🔴). This is done using table.cell() for each timeframe.
6. Final Result A table is displayed on the chart. Each column represents a different timeframe. The color-coded row shows the MACD histogram status. The bottom row shows detected divergences.