OPEN-SOURCE SCRIPT

MACD MultiTimeFrame 1h4h1D [Fantastic Fox]

7 869
Please insert the indicator into 1h time-frame, otherwise you need to change the lengths' inputs.
When there are tops for two of the MACDs and they are near and close* to each other, there is a big opportunity of a "Major Top" for the security, and vice versa for "Major Bottom".

This indicator can be used for tracing multi time-frame divergence. Also, it could help traders to identify the waves of Elliott Wave, and as a signal for confirmation of an impulse after a correction or retracement.

* They should be on top of each others head, not crossing each other. not necessarily touching, but not so far from each other.

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