Wonder if someone can publish a code for doing a standard macd with its own Bollinger bands. Saw it on a thinkorswim platform forum discussion. The idea is to go long when it pos out of the BB, neutral inside the band. Much appreciated...
Here is the code below: # TS_MACD_BB # By Eric Purdy, ThinkScripter LLC # http://www.thinkscripter.com # [email protected] # Last Update 07 Feb 2011 declare lower; input price = close; input BBlength = 10; input BBNum_Dev = 1.0; input MACDfastLength = 12; input MACDslowLength = 26; input MACDLength = 5; def MACD_Data = MACD(fastLength=MACDfastLength, slowLength=MACDslowLength, MACDLength = MACDLength); plot MACD_Dots = MACD_Data; plot MACD_Line= MACD_Data; plot BB_Upper = BollingerBandsSMA(price = MACD_Line, length=BBlength, Num_Dev_Dn=-BBNum_Dev, Num_Dev_Up=BBNum_Dev).UpperBand; plot BB_Lower = BollingerBandsSMA(price = MACD_Line, length=BBlength, Num_Dev_Dn=-BBNum_Dev, Num_Dev_Up=BBNum_Dev).Lowerband; plot BB_Midline = BollingerBandsSMA(price = MACD_Line, length=BBlength, Num_Dev_Dn=-BBNum_Dev, Num_Dev_Up=BBNum_Dev).MidLine; BB_Upper.SetDefaultColor(color.gray); BB_Lower.SetDefaultColor(color.gray); BB_MidLine.SetDefaultColor(color.gray); BB_MidLine.setStyle(curve.SHORT_DASH); MACD_Line.setDefaultColor(color.white); MACD_Dots.setStyle(curve.POINTS); MACD_Dots.setLineWeight(2); MACD_Dots.assignValueColor(if MACD_Line>MACD_line[1] then color.green else color.red); plot zero = 0; zero.assignValueColor(if MACD_line<0 then color.red else color.green); zero.setLineWeight(2); This entry was posted in Indicator and tagged Bollinger Bands, custom, MACD, thinkscript. Bookmark the permalink.
