This is my simple way to quickly see MACD signals without having the MACD taking up space. The one at the bottom is for display to show how this works. A crossover occurs when the arrow flips over. The position of the arrow tells you if it is currently above or below the zero line. You can change the script to overlay and have it show up above or below price also. Let me know what you think.
//Created by Robert N. 031115 // This will place arrows on the bottom for your MACD //Lime up is fast over slow and under 0 line - plots under //Lime up is fast over slow and above 0 line - plots above //Red down is fast under slow and above 0 line - plots above //Red down is fast under slow and under 0 line - plots under study(title="RN MACD signals") fastLength = input(12, minval=1), slowLength=input(26,minval=1) signalLength=input(9,minval=1) fastMA = ema(close, fastLength) slowMA = ema(close, slowLength) macd = fastMA - slowMA signal = sma(macd, signalLength) plotshape(macd < 0 and macd < signal, title= "DnBelow", location=location.bottom, color=red, style=shape.arrowdown) plotshape(macd > 0 and macd < signal, title= "DnAbove", location=location.top, color=red, style=shape.arrowdown) plotshape(macd < 0 and macd > signal, title= "UpBelow", location=location.bottom, color=lime, style=shape.arrowup) plotshape(macd > 0 and macd > signal, title= "UpAbove", location=location.top, color=lime, style=shape.arrowup)
