Fast MA Period |
Input the fast length for the MACD calculation. Default is 12. |
Slow MA Period |
Input the slow length for the MACD calculation. Default is 26. |
Signal Period |
Input the signal length for the MACD calculation. Default is 9. |
Lookback |
Whenever a new pivot in the data is identified, the indicator looks back over several pivots in an attempt to identify the longest divergence possible. This setting governs how far back the indicator will look. The default value is 5 which means that the indicator will analyze the price and indicator data between the current pivot and the 5th pivot back in time and will highlight the longest divergence it can find. You can set this to any value between 1 and 20. |
Source |
Select the price source to use for the MACD calculation. You can select from "Close", "Open", "High", "Low", "HL2", "HLC3", and "OHLC4" |
Type |
Select between "Regular" and "Hidden". "Regular" divergence will look for situations where the indicator is seeing lower-highs while the price action is seeing higher highs or situations where the indicator is seeing higher-lows while the price action is seeing lower-lows. Conversely, "Hidden" divergence will look for situations where the indicator is seeing higher-highs while the price data is seeing lower-highs or situations where the indicator is seeing lower-lows but the price action is seeing higher-lows. |
URef |
Input the upper reference level. Default is 0.30. |
LRef |
Input the lower reference level. Default is -0.30. |
Signals in Chart Pane? |
Check this option if you would like to see the divergence signals in the chart pane as well as in the indicator pane. If checked, then arrows will be drawn above/below each price bar in the chart that represents the end of a divergence. The colors used for these arrows will be those you have selected in the "Bull" and "Bear" options discussed below. Default is not checked (false). |
MACD |
Select the color to be used to draw the MACD line. The default is blue. |
Signal |
Select the color to be used to draw the Signal line. The default is red. |
Histogram |
Select the color to be used to draw the Histogram. The default is gold. |
URef |
Select the color to be used for the upper reference level. The default is grey. |
LRef |
Select the color to be used for the upper reference level. The default is grey. |
Bull |
Select the color to be used to draw a bullish divergence. The default is green. |
Bear |
Select the color to be used to draw a bearish divergence. The default is red. |
