View on TradingView
Mag 7 MACD Indicator
*Available with the Plus or Premium subscription.
Description:
Given that SPX and NDX are heavily weighted by the “Magnificent (7) Seven” stocks, this indicator comprising of them may provide some timely and unique insight into the markets.
Unique Features:
This script combines all the Mag 7 stocks (plus chart ticker) and creates a moving average and converts it to an oscillator of the moving average convergences and divergences (MACD). The display shows the moving average lines and the histogram as a zero line oscillator.
- Bull/bear divergences are calculated and plotted.
- The MACD line changes color when crossing events occur with the signal line.
- The histogram can display with/without smoothing adjustment.
- MA Crossings are marked with a cross or background color change.
- Ticker symbols can be user selected.
Indicator Options:
Go to indicator settings under the “Input” tab section to customize:
- Select options to show/hide: histogram, smoothing, MA lines, MA lines color filling, and crossings background color changes.
- 8 ticker symbols are user selectable.
- Histogram, MA lines, crossings, and crossing background colors are user selectable.
- MACD plus smoothing lengths and MA types are user selectable.
- Bull/bear divergences is user selectable.
- Timeframe is also user selectable.
Usage Tips:
With user strategies taking precedence, installations into charts of various time frames is highly suggested to obtain a clearer view of price action and possible trends.
Time frames:
With the option to choose indicator time frames it is possible to show various time frames of this indicator on the same chart with multiple installations.
*This script is free to use with premium member access.
Disclaimer:
Achieving trading success hinges on adherence to your strategy, with indicators complementing rather than dictating trades. This script serves solely for informational and educational purposes and does not offer professional or financial advice. You assume full responsibility for evaluating the script output and its associated risks.
By utilizing the script, you agree to absolve StockWaver (TradingView user) of any liability for damages arising from decisions based on it. StockWaver is not affiliated with TradingView, Inc. Remember, experience and sound risk management are invaluable, and there’s no substitute for them, be it indicators or strategies. Thank you!
BECOME A MEMBER
Join the community of our many subscribers and elevate your trading performance. Freely access over 1000 publication titles to expand your knowledge base.
Better trading with better tools crafted by experienced traders.
Risk Disclosure
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
Testimonials
Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
Live Trade Room
This presentation is for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.
Virtual Currency
View CFTC advisories as they contain more information on the risks associated with trading virtual currencies.
“NinjaTrader® is a registered trademark of NinjaTrader Group, LLC. No NinjaTrader company has any affiliation with the owner, developer, or provider of the products or services described herein, or any interest, ownership or otherwise, in any such product or service, or endorses, recommends or approves any such product or service.”