MACDV = Moving Average Convergence Divergence Volume
The MACDV indicator uses stochastic accumulation / distribution volume inflow and outflow formulas to visualize it in a standard MACD type of appearance.
To be able to merge these formulas I had to normalize the math. Accumulation / distribution volume is a unique scale. Stochastic is a 0-100 scale. MACD is a unique scale.
The normalized output scale range for MACDV is -100 to 100. 100 = overbought -100 = oversold
Everything in between is either bullish or bearish. Rising = bullish Falling = bearish crossover = bullish crossunder = bearish convergence = direction change divergence = momentum
The default input settings are: 7 = K length, Stochastic accumulation / distribution length
3 = D smoothing, smoothing stochastic accumulation / distribution volume weighted moving average
6 = MACDV fast, MACDV fast length line color = blue
13 = MACDV slow, MACDV slow length line color = white
4 = MACDV signal, MACDV histogram length color rising above 0 = bright green color falling above 0 = dark green color falling below 0 = bright red color rising below 0 = dark red
2 = Stretch, Output multiplier for MACDV visual expansion
Horizontal lines: 100 75 50 25 0 -25 -50 -75 -100
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add cross options: bullish macdLine crossover signalLine = green tiny circle bearish macdLine crossunder signalLine = red tiny circle
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10/7/23 update: Fine tune default input lengths. Add a total line option. Add a PVT or AD option. Add a bullish or bearish tiny dot option.
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10/14/23 update: Add 6 volume source options: Accumulation Distribution Price Volume Trend Positive Volume Index On Balance Volume Money Flow Index Average of all 5
Hello. My name is Alex Spiroglou, and I am the creator of the MACD-v.
I hope you like my work and I would appreciate if you credited me with the creation of this twice awarded tool.
all the best Alex
Options360
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@AlexSpiroglou, that's impossible buddy. I created this script without ever seeing whatever you're talking about. My MACDV script is original from my own creative unique idea. Thanks.
My name is Alex Spiroglou,
and I am the creator of the MACD-v.
I hope you like my work and I would appreciate
if you credited me with the creation of this twice awarded tool.
all the best
Alex