OPEN-SOURCE SCRIPT
Linda Raschke MACD + Stochastic
# Linda Raschke MACD + Stochastic
This indicator combines a fast **MACD (3,10,16)** with a **Stochastic Oscillator (7,10,3)**, inspired by trading concepts commonly associated with professional trader Linda Raschke.
Instead of relying on a standard MACD (12,26,9), this version uses a faster configuration to detect short-term momentum shifts and potential trend changes more quickly.
## Features
* MACD (3,10,16)
* Stochastic (7,10,3)
* Automatic BUY and SELL signals
* Momentum confirmation using both indicators
* Built-in alert conditions
* Designed for day trading and swing trading
## Buy Signal
A BUY signal is generated when:
* The MACD line crosses above the Signal line.
* The Stochastic forms a bullish Hook, indicating momentum is turning upward.
## Sell Signal
A SELL signal is generated when:
* The MACD line crosses below the Signal line.
* The Stochastic forms a bearish Hook, indicating momentum is turning downward.
Signals are displayed only when both conditions occur together, helping reduce false entries.
## Recommended Usage
This indicator is intended to be used as a momentum confirmation tool rather than a standalone trading system.
For better trade selection, consider combining it with:
* 3 EMA & 10 EMA
* ATR Trailing Stop
* Previous Day High / Low
* Support & Resistance
* Price Action Analysis
## Disclaimer
This indicator is provided for educational and informational purposes only. It does not guarantee profitable trades and should always be used alongside proper risk management and independent market analysis.
This indicator combines a fast **MACD (3,10,16)** with a **Stochastic Oscillator (7,10,3)**, inspired by trading concepts commonly associated with professional trader Linda Raschke.
Instead of relying on a standard MACD (12,26,9), this version uses a faster configuration to detect short-term momentum shifts and potential trend changes more quickly.
## Features
* MACD (3,10,16)
* Stochastic (7,10,3)
* Automatic BUY and SELL signals
* Momentum confirmation using both indicators
* Built-in alert conditions
* Designed for day trading and swing trading
## Buy Signal
A BUY signal is generated when:
* The MACD line crosses above the Signal line.
* The Stochastic forms a bullish Hook, indicating momentum is turning upward.
## Sell Signal
A SELL signal is generated when:
* The MACD line crosses below the Signal line.
* The Stochastic forms a bearish Hook, indicating momentum is turning downward.
Signals are displayed only when both conditions occur together, helping reduce false entries.
## Recommended Usage
This indicator is intended to be used as a momentum confirmation tool rather than a standalone trading system.
For better trade selection, consider combining it with:
* 3 EMA & 10 EMA
* ATR Trailing Stop
* Previous Day High / Low
* Support & Resistance
* Price Action Analysis
## Disclaimer
This indicator is provided for educational and informational purposes only. It does not guarantee profitable trades and should always be used alongside proper risk management and independent market analysis.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Free indicators tailored for each market are now available.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Free indicators tailored for each market are now available.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.