Roxana_Signals MACD + vol

The Roxana_Signals MACD + vol indicator provides trend-following signals by combining standard momentum analysis with a volume oscillator to filter market entries.

Usage

The indicator is used to identify potential entry points based on the confluence of price momentum and volume strength. Signals are plotted directly on the chart:

• Long Entry: Indicated by a green upward triangle below the bar. This occurs when the MACD line crosses above the zero line while the volume oscillator remains positive, suggesting bullish momentum is supported by increasing volume.
• Short Entry: Indicated by a red downward triangle above the bar. This occurs when the MACD line crosses below the zero line while the volume oscillator remains positive, suggesting bearish momentum is supported by volume expansion.

The script includes built-in alert functionality for long, short, and combined signals, allowing for automated notifications or integration with third-party trading bots.

Details

The script functions by evaluating two primary components:

1. MACD Momentum: It calculates the Moving Average Convergence Divergence using fast and slow exponential moving averages (or simple moving averages depending on settings). The zero-line crossover is used as the primary trend trigger.
2. Volume Oscillator: It calculates the percentage difference between a short-term and a long-term volume EMA. By requiring the volume oscillator to be above zero, the script ensures that signals are only generated when shorter-term volume is outpacing the longer-term average, indicating higher participation.

Settings

Volume Oscillator

• Short Length: Sets the period for the short-term volume moving average.
• Long Length: Sets the period for the long-term volume moving average.

MACD

• Fast Length: Sets the period for the fast moving average in the MACD calculation.
• Slow Length: Sets the period for the slow moving average in the MACD calculation.
• Signal Smoothing: Sets the period for the MACD signal line.
• Oscillator MA Type: Selects between SMA or EMA for the MACD fast and slow lines.
• Signal Line MA Type: Selects between SMA or EMA for the MACD signal line smoothing.

FAQ

How do I use the Roxana_Signals MACD + vol?

Apply the indicator to your chart and look for green upward triangles for potential buying opportunities and red downward triangles for potential selling opportunities, ensuring they align with your overall trend analysis.

What does it mean when the volume oscillator is above zero?

When the volume oscillator is above zero, it indicates that current volume (short length) is higher than the average volume (long length), suggesting increased market activity during the price move.

How can I access Roxana_Signals MACD + vol?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.