Composite Symbol MACD

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

This indicator paints the MACD of a composite symbol using XLK as the comparison symbol, but you can adjust this in the settings of the indicator.

Source code

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

// This indicator code was potentially generated using AI. It was not checked by Quality Assurance
// and did not pass any quality assurance processes used at TrendSpider
// As a result, I can’t guarantee that it will operate as expected in all cases and you should
// use caution when using this indicator. Consider it for informational purposes only.

//This indicator allows you to create a MACD based on a composite symbol.  For example, if you are viewing ticker symbol AAPL on your price chart, and the indicator is using XLK, then you will get the MACD of the composite symbol =AAPL/XLK.  

// Declare the indicator with a user-friendly name and type
describe_indicator('Composite Symbol MACD', 'lower', { decimals: 4 });

// Input parameter for the comparison symbol
const comparisonSymbol = input.symbol('Comparison Symbol', 'XLK');

// Fetch the historical data for the selected comparison symbol
const compositeHistory = await request.history(`=${current.ticker}/${comparisonSymbol}`, current.resolution, { land_onto_current_candles: true });
const compositeClose = compositeHistory.close;

// Input parameters for MACD calculation
const shortLength = input.number('Short Length', 12);
const longLength = input.number('Long Length', 26);
const signalLength = input.number('Signal Length', 9);

// Calculate MACD
const short = ema(compositeClose, shortLength);
const long = ema(compositeClose, longLength);
const macd = sub(short, long);
const signal = sma(macd, signalLength);
const histogram = sub(macd, signal);

// Paint histogram
paint(histogram, { title: 'MACD Histogram', style: 'histogram', color: histogram.map(value => value > 0 ? 'green' : 'red') });

// Paint MACD line
paint(macd, { name: 'MACD', color: 'blue', thickness: 2 });

// Paint Signal line
paint(signal, { name: 'Signal', color: 'purple', thickness: 2 });