OPEN-SOURCE SCRIPT

MACD Histogram Color Table

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.

คำจำกัดสิทธิ์ความรับผิดชอบ