MACD & RSI Based Momentum

A custom indicator created by James on TrendSpider. You can import this script into your TrendSpider account. Don't have TrendSpider? Create an account first, then import the script.

This momentum indicator paints candles based on the MACD and RSI.

EDIT: this indicator has been updated. The update has enabled you to create conditions using visual scripting to either backtest, scan, set alerts, or use smart checklist based on the color of the candle. For example, you can now backtest a strategy which enters when the a blue candle emerges.

EDIT 2: This indicator has been updated to allow you to select the length of the MACD (fast and slow), and RSI lengths.

Source code

This indicator had been implemented by James in JavaScript on TrendSpider. Check out the developer documentation to learn more about JS on TrendSpider.

// This indicator was made by AI and has not been QA checked by the TrendSpider development team. The indicator is for informational purposes only.
describe_indicator('MACD & RSI Based Momentum', 'price', {
    shortName: 'MACD RSI Momentum',
    warmup: 250, // Defines the warm-up period for this indicator
});

// Inputs for MACD and RSI lengths
const fastLength = input('MACD Fast Length', 12, { min: 1, max: 100 });
const slowLength = input('MACD Slow Length', 26, { min: 1, max: 100 });
const signalSmoothing = input('MACD Signal Length', 9, { min: 1, max: 100 });
const rsiLength = input('RSI Length', 14, { min: 1, max: 100 });

// MACD components
const fastMA = ema(close, fastLength);
const slowMA = ema(close, slowLength);
const macdLine = sub(fastMA, slowMA);
const signalLine = sma(macdLine, signalSmoothing);
const histogram = sub(macdLine, signalLine);

// RSI calculation
const rsiValues = rsi(close, rsiLength);

// Coloring logic
const candleColors = for_every(histogram, rsiValues, (hist, rsi) => {
    if (hist > 0 && rsi > 50) {
        return 'blue'; // Strong upward trend
    } else if (hist > 0 && rsi <= 50) {
        return 'lightblue'; // Upward trend losing strength
    } else if (hist < 0 && rsi < 50) {
        return 'red'; // Strong downward trend
    } else {
        return 'pink'; // Downward trend losing momentum
    }
});

// Applying the color to candles
color_candles(candleColors);

// Register signals for visual scripting
const strongUptrendSignal = for_every(histogram, rsiValues, (hist, rsi) => hist > 0 && rsi > 50);
const weakUptrendSignal = for_every(histogram, rsiValues, (hist, rsi) => hist > 0 && rsi <= 50);
const strongDowntrendSignal = for_every(histogram, rsiValues, (hist, rsi) => hist < 0 && rsi < 50);
const weakDowntrendSignal = for_every(histogram, rsiValues, (hist, rsi) => hist < 0 && rsi >= 50);

register_signal(strongUptrendSignal, 'Strong Uptrend');
register_signal(weakUptrendSignal, 'Weak Uptrend');
register_signal(strongDowntrendSignal, 'Strong Downtrend');
register_signal(weakDowntrendSignal, 'Weak Downtrend');