OPEN-SOURCE SCRIPT
SMACD
SMACD is a normalized MACD-style momentum indicator that compares fast and slow EMAs inside the recent price range. By scaling both EMAs between the highest high and lowest low over a chosen lookback period, the indicator aims to make MACD signals more comparable across different symbols and price levels.
It plots:
SMACD line: the normalized difference between the fast and slow EMAs
Signal line: an EMA smoothing of SMACD
Histogram: the distance between SMACD and the signal line
The histogram uses different colors to highlight whether momentum is strengthening or weakening above or below the zero line. Upper and lower guide bands are included to help spot stronger momentum extremes.
This indicator is useful for:
Momentum analysis
Trend confirmation
Early shift detection
Comparing momentum across different instruments
It plots:
SMACD line: the normalized difference between the fast and slow EMAs
Signal line: an EMA smoothing of SMACD
Histogram: the distance between SMACD and the signal line
The histogram uses different colors to highlight whether momentum is strengthening or weakening above or below the zero line. Upper and lower guide bands are included to help spot stronger momentum extremes.
This indicator is useful for:
Momentum analysis
Trend confirmation
Early shift detection
Comparing momentum across different instruments
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.