Display MACD as Dots in Lower Study

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Hi Pete,

I asked a similar question in this thread about moving averages, which you helped me resolve. This is my last request for this type of indicator.

Do you know how to create a lower chart study that plots when a MACD Value is greater than its Avg as dots as opposed to lines and a Histogram?

Also, to provide more clarity, I’d like the lower chart study to allow you to select multiple timeframes, for multi-timeframe analysis. So if I’m using a 1M chart to trade, I’d like to see a row of dots for additional timeframes in this study. One row could be 5 minutes; another could be 15 minutes, etc.

If the condition exists (e.g. Value is greater than the Avg), I’d like the corresponding row (e.g. 5 or 15 minute) to display a Green dot after every 1 minute candle (primary chart I’m trading on). If the condition does not exist, I’d like it to display a Red dot.

RESOLVED
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Posted by (Questions: 4, Answers: 1)
Asked on January 13, 2021 7:35 pm
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This solution is very much the same as the one you linked in your question. Start with a basic MACD, add the secondary aggregation components to allow adjustment of the time frame, plot a single row of dots colored based the same rules. Most of this was just a copy/paste with just a few modifications. Compare this code to the one you linked in your question to see where each component is reused.

declare lower;
input timeFrameOne = AggregationPeriod.FIFTEEN_MIN;
input fastLength = 12;
input slowLength = 26;
input macdLength = 9;
input macdAverageType = AverageType.EXPONENTIAL;
def value = MovingAverage(macdAverageType, close(period = timeFrameOne), fastLength) - MovingAverage(macdAverageType, close(period = timeFrameOne), slowLength);
def average = MovingAverage(macdAverageType, value, macdLength);
plot rowOne = if !IsNaN(close) then 0 else Double.NaN;
rowOne.SetPaintingStrategy(PaintingStrategy.POINTS);
rowOne.AssignValueColor(if value > average then Color.GREEN else Color.RED);
rowOne.SetLineWeight(3);

Once you read and understand how the code functions you can replicate this to plot as many different rows of other time frames as you require.

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Posted by (Questions: 37, Answers: 4087)
Answered on January 14, 2021 11:02 am
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