BTM - MACD V+
BTM - MACD V+
OVERVIEW
BTM - MACD V+ is a momentum oscillator built on the volatility-normalised MACD (MACD-V) and extended with a neutral-zone filter, a trend-regime filter, an Elder Impulse permission filter and a built-in dashboard. It targets the two most common complaints about the classic MACD: whipsaws in ranging markets, and readings that cannot be compared across markets or over time.
HOW IT WORKS
1. Volatility-normalised core (MACD-V)
The standard MACD spread (EMA 12 − EMA 26) is divided by ATR(26) and multiplied by 100. Because momentum is measured in units of volatility rather than price, the same levels mean the same thing on any symbol or timeframe. This concept comes from Alex Spiroglou's 2022 paper "MACD-V: Volatility Normalised Momentum".
Zones:
- Above +150 / below −150: overextended momentum
- +50 to +150 / −50 to −150: strong directional momentum
- −50 to +50: neutral / ranging
2. Neutral-zone filter
Signal-line crosses inside the ±50 band are ignored, because this is where crossovers whipsaw most. The idea of muting MACD output in ranges is inspired by LazyBear's Impulse MACD.
3. Elder Impulse permission filter
Following Dr Alexander Elder's Impulse System, each bar is classed as green (13 EMA and histogram both rising), red (both falling) or neutral (mixed). Long signals are blocked on red bars and short signals on green bars.
4. Regime filter
Momentum signals are only taken in the direction of a long EMA (200 by default): longs above it, shorts below it.
WHY THESE ARE COMBINED
MACD-V supplies a fixed scale, which makes a neutral zone and extreme zones possible. The neutral-zone filter uses that scale to remove low-quality crosses. The Elder and regime filters then check that trend and momentum agree before a signal is shown. Each part answers a different question: how strong is momentum, is it worth acting on, and does it agree with the trend?
SIGNALS (drawn on the MACD V+ line)
- MOM label (green, below the line): Momentum long. The line crosses above its signal between +50 and +150 with the filters passing.
- PB label (lighter green, below the line): Pullback long. Price is above the regime EMA and the line crosses up from −50 or lower.
- Diamond (yellow/orange): Exhaustion. The line moves back inside ±150 after an extreme reading.
- MOM / PB labels (red, above the line): Short versions of the above. Off by default; enable under "Show short signals".
All signals are confirmed on bar close and do not repaint.
VISUALS
- Gradient line that fades from grey into bull or bear colour as momentum builds, turning to the extreme colour beyond ±150
- Optional glow behind the main line
- Momentum cloud shading between the line and its signal
- Histogram that fades in with strength (columns, area or hidden)
- Shaded bull, bear and neutral zones, with a highlight when momentum is overextended
- Price bars coloured by the Elder Impulse state
- Four colour themes: Neon, Ocean, Sunset and Classic
DASHBOARD
- Header coloured by the current zone
- Gauge showing where the reading sits from −200 to +200
- Current value and signal value
- Histogram value and whether momentum is accelerating or fading
- Regime (bull or bear) and % distance from the regime EMA
- Elder Impulse state and what it permits
- Higher-timeframe reading (daily by default, non-repainting)
- Last signal and how many bars ago it fired
- Short signals on/off
The dashboard can be moved, resized or hidden.
ALERTS
Alerts are available for momentum longs and shorts, pullback longs and shorts, and exhaustion tops and bottoms. Use "Once per bar close".
SETTINGS
All lengths, zone levels, filters and visuals are adjustable. Defaults: 12 / 26 / 9, ATR 26, neutral ±50, extreme ±150, Elder EMA 13, regime EMA 200, higher timeframe D.
HOW TO USE
Treat signals as context, not standalone trade entries. Combine them with your own price action, support and resistance, and risk management, and test the settings on your own market and timeframe before relying on them.
CREDITS
- MACD: Gerald Appel
- MACD-V: Alex Spiroglou
- Impulse System: Dr Alexander Elder
- Impulse MACD concept: LazyBear
DISCLAIMER
This script is for educational and informational purposes only and is not financial advice. Past behaviour of any indicator does not guarantee future results.
OVERVIEW
BTM - MACD V+ is a momentum oscillator built on the volatility-normalised MACD (MACD-V) and extended with a neutral-zone filter, a trend-regime filter, an Elder Impulse permission filter and a built-in dashboard. It targets the two most common complaints about the classic MACD: whipsaws in ranging markets, and readings that cannot be compared across markets or over time.
HOW IT WORKS
1. Volatility-normalised core (MACD-V)
The standard MACD spread (EMA 12 − EMA 26) is divided by ATR(26) and multiplied by 100. Because momentum is measured in units of volatility rather than price, the same levels mean the same thing on any symbol or timeframe. This concept comes from Alex Spiroglou's 2022 paper "MACD-V: Volatility Normalised Momentum".
Zones:
- Above +150 / below −150: overextended momentum
- +50 to +150 / −50 to −150: strong directional momentum
- −50 to +50: neutral / ranging
2. Neutral-zone filter
Signal-line crosses inside the ±50 band are ignored, because this is where crossovers whipsaw most. The idea of muting MACD output in ranges is inspired by LazyBear's Impulse MACD.
3. Elder Impulse permission filter
Following Dr Alexander Elder's Impulse System, each bar is classed as green (13 EMA and histogram both rising), red (both falling) or neutral (mixed). Long signals are blocked on red bars and short signals on green bars.
4. Regime filter
Momentum signals are only taken in the direction of a long EMA (200 by default): longs above it, shorts below it.
WHY THESE ARE COMBINED
MACD-V supplies a fixed scale, which makes a neutral zone and extreme zones possible. The neutral-zone filter uses that scale to remove low-quality crosses. The Elder and regime filters then check that trend and momentum agree before a signal is shown. Each part answers a different question: how strong is momentum, is it worth acting on, and does it agree with the trend?
SIGNALS (drawn on the MACD V+ line)
- MOM label (green, below the line): Momentum long. The line crosses above its signal between +50 and +150 with the filters passing.
- PB label (lighter green, below the line): Pullback long. Price is above the regime EMA and the line crosses up from −50 or lower.
- Diamond (yellow/orange): Exhaustion. The line moves back inside ±150 after an extreme reading.
- MOM / PB labels (red, above the line): Short versions of the above. Off by default; enable under "Show short signals".
All signals are confirmed on bar close and do not repaint.
VISUALS
- Gradient line that fades from grey into bull or bear colour as momentum builds, turning to the extreme colour beyond ±150
- Optional glow behind the main line
- Momentum cloud shading between the line and its signal
- Histogram that fades in with strength (columns, area or hidden)
- Shaded bull, bear and neutral zones, with a highlight when momentum is overextended
- Price bars coloured by the Elder Impulse state
- Four colour themes: Neon, Ocean, Sunset and Classic
DASHBOARD
- Header coloured by the current zone
- Gauge showing where the reading sits from −200 to +200
- Current value and signal value
- Histogram value and whether momentum is accelerating or fading
- Regime (bull or bear) and % distance from the regime EMA
- Elder Impulse state and what it permits
- Higher-timeframe reading (daily by default, non-repainting)
- Last signal and how many bars ago it fired
- Short signals on/off
The dashboard can be moved, resized or hidden.
ALERTS
Alerts are available for momentum longs and shorts, pullback longs and shorts, and exhaustion tops and bottoms. Use "Once per bar close".
SETTINGS
All lengths, zone levels, filters and visuals are adjustable. Defaults: 12 / 26 / 9, ATR 26, neutral ±50, extreme ±150, Elder EMA 13, regime EMA 200, higher timeframe D.
HOW TO USE
Treat signals as context, not standalone trade entries. Combine them with your own price action, support and resistance, and risk management, and test the settings on your own market and timeframe before relying on them.
CREDITS
- MACD: Gerald Appel
- MACD-V: Alex Spiroglou
- Impulse System: Dr Alexander Elder
- Impulse MACD concept: LazyBear
DISCLAIMER
This script is for educational and informational purposes only and is not financial advice. Past behaviour of any indicator does not guarantee future results.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.