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MACD + Stochastic, Double Strategy (by ChartArt)

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//@version=2 strategy("MACD + Stochastic, Double Strategy (by ChartArt)", shorttitle="CA_-_MACD_Stoch_Strat", overlay=true) // ChartArt's MACD + Stochastic Strategy // // Version 1.0 // Idea by ChartArt on February 24, 2016. // // This strategy combines the classic stochastic // strategy to buy when the stochastic is oversold // with a classic MACD strategy to buy when the // MACD histogram value goes above the zero line. // // Only difference to the classic stochastic is a // default setting of 71 for overbought // (classic setting 80) and 29 for oversold // (classic setting 20). // // This strategy goes long if the MACD histogram // goes above zero and the stochastic indicator // detects a oversold condition (value below 29). // If the inverse logic is true, the strategy // goes short (oversold condition value above 71). // // This pure double strategy does not have any // stop loss or take profit money management logic. // // List of my work: // https://www.tradingview.com/u/ChartArt/ // // __ __ ___ __ ___ // / ` |__| /\ |__) | /\ |__) | // \__, | | /~~\ | \

| /~~\ | \ | // // // Input fastMAlen = input(12, minval=1, title="MACD fast moving average") slowMAlen = input(26,minval=1, title="MACD slow moving average") signalMACDlen = input(9,minval=1, title="MACD signal line moving average") StochLength = input(14, minval=1, title="Stochastic Length") OverBoughtOverSold = input(71, title="Overbought Level (Oversold = 100 - Overbought") switch=input(true, title="Enable MACD Bar Color?") // MACD Calculation MACD = ema(close, fastMAlen) - ema(close, slowMAlen) signalMACD = ema(MACD, signalMACDlen) delta = MACD - signalMACD fastMA = ema(close,fastMAlen) slowMA = ema(close,slowMAlen) veryslowMA = sma(close, 100) // Stochastic Calculation OverBought = OverBoughtOverSold OverSold = 100-OverBought smoothK = input(3, title="Smoothing of Stochastic %K ") smoothD = input(2, title="Moving Average of Stochastic %K") k = sma(stoch(close, high, low, StochLength), smoothK) d = sma(k, smoothD) // Colors bartrendcolor = close > fastMA and close > slowMA and close > veryslowMA and change(slowMA) > 0 ? green : close < fastMA and close < slowMA and close < veryslowMA and change(slowMA) < 0 ? red : blue barcolor(switch?bartrendcolor:na) // Strategy if (not na(k) and not na(d)) if (crossover(k,d) and k < OverSold and crossover(delta, 0)) strategy.entry("Stoch_L__MACD_L", strategy.long, comment="Stoch_L_+_MACD_L") if (crossunder(k,d) and k > OverBought and crossunder(delta, 0)) strategy.entry("Stoch_S__MACD_S", strategy.short, comment="Stoch_S_+_MACD_S") //plot(strategy.equity, title="equity", color=red, linewidth=2, style=areabr)


Category: Macd

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