MACD for colour blind people

The MACD for colour blind people indicator provides a visually optimized Moving Average Convergence Divergence tool designed specifically for users with Deuteranopia, ensuring clear differentiation between bullish and bearish momentum through a distinct four-color histogram.

Usage

The indicator is used to identify trend direction and momentum shifts, similar to a standard MACD, but with a color palette that remains accessible to red-green color-blind users.

• Positive Momentum: When the MACD line is above zero and rising, the histogram displays a solid green hue.
• Waning Positive Momentum: When the MACD is above zero but falling, the histogram displays a lighter, semi-transparent green.
• Negative Momentum: When the MACD line is below zero and falling, the histogram displays a solid red hue.
• Waning Negative Momentum: When the MACD is below zero but rising, the histogram displays a lighter, semi-transparent red.

Users can monitor these color shifts to anticipate potential trend reversals or continuations without the visual ambiguity common in standard color schemes for those with color vision deficiencies.

Details

The script utilizes the standard ta.macd function to calculate the relationship between two moving averages of prices. The primary difference lies in the visual output; instead of relying on standard red/green defaults that can look identical to some users, it employs specific hex codes and transparency levels (#089981 and #f23645 with varying opacities) to create high-contrast visual cues. The histogram reflects both the position relative to the zero line and the change relative to the previous bar's value.

Settings

• Fast moving average: Sets the period for the shorter-term moving average used in the calculation (default is 12).
• Slow moving average: Sets the period for the longer-term moving average used in the calculation (default is 26).

FAQ

How do I interpret the transparency in the histogram?

Solid colors represent strengthening momentum in the current direction (bullish or bearish), while semi-transparent colors indicate that the momentum is beginning to slow down or retract toward the zero line.

Does this include a signal line?

The underlying calculation computes a signal line, but this specific version focuses on the MACD histogram for visual clarity.

How can I access MACD for colour blind people?

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