Strategy Premise

Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price  MACD is calculated 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 12 Period EMA is above the 26- Period EMA Send LE

Long Exit: Either when SL or Target is hit. If SL/TGT is not hit and 12-period EMA is below the 26-period EMA. Send LX, SE 

Short Entry: When 12-period EMA is below the 26-period EMA. Send SE

Short Exit: Either when SL or Target is hit. If SL/TGT is not hit and 12 Period EMA is above the 26- Period EMA Send SX, LE

MACD Strategy Parameters for TradingView Charts

FastLength : 12-period EMA

SlowLength : 26-period EMA  

Intraday Trade Session : Entry Trade Will be Taken only on 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

STEP 1: Download The Pine Script Algo  here

STEP 2: Open desired Chart in trading View with normal Candlestick , Select desired timeframe of the chart , Go to pine editor section , remove the default code, paste the downloaded code,  save the file and to chart. 

STEP  3: Once Strategy applied on chart, click on settings to optimize parameters  for your own trading.

Setting Up Alert

Before setting up alert make sure that You have selected desired script, timeframe, strategy settings, apibridge 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).

That’s all, you are ready to trade.