MACD By Hpotter Strategy for TradingView

Strategy Premise

Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator. It shows the relationship between two moving averages of a security’s price. You can calculate MACD by subtracting the long-term EMA (26 periods) from the short-term EMA (12 periods) The MACD has a positive value whenever the 12-period EMA is above the 26-period EMA and a negative value when the 12-period EMA is below the 26-period EMA.

Strategy Logic

Long Entry: When Signal Length Cross over MACD, Send LE

Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and SE

Short Entry: When Signal Length Cross under MACD, Send SE

Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and LE

MACD Strategy Parameters for TradingView Charts

FastLength : 12-period EMA

SlowLength : 26-period EMA

Intraday Trade Session: Entry Trade Will be Taken only in this session.

EXIT Session: Trades will be squared off in this timeframe

Quantity: This is used to specify the trade quantity

Custom Stop Loss in Points: Movement in chart price against the momentum which will trigger exit

Custom Target in Points: Movement in chart price against the momentum which will trigger exit

TradingView Settings

Download the Pine Script Algo
Open desired Chart in tradingView with normal Candlestick, Select the desired timeframe of the chart, Go to the pine editor section, remove the default code, paste the downloaded code, save the file, and to chart.

3. Once we apply Strategy on the chart, click on settings to optimize parameters for your own trading.

Setting Up Alert

Before setting up an alert make sure that you select the desired script, time frame, strategy settings. Also make sure API bridge is configured and running. Click in settings add alert and paste {{strategy.order.comment}} in message box.

Important: do not change any settings during live trading.

NOTE: The pinescript works both with webhook alerts (TV Pro plan) and normal popup alerts (TV free plan).