MACD NEUTRAL ZONE
This script overlays the MACD (Moving Average Convergence Divergence) indicator with a neutral zone.
The neutral zone is calculated based on the daily closing price divided by 500, and two horizontal lines are plotted above and below zero to represent this zone.
The MACD line, Signal line, and MACD histogram are also displayed.
Purpose of Neutral Zone: The neutral zone helps identify areas where the MACD might be in a neutral or indecisive state. It provides a visual cue that may help traders interpret the MACD's movements in relation to price action.
You can use this indicator for market analysis in combination with other tools to identify potential trends, reversals, or indecisive states in the market.
The neutral zone is calculated based on the daily closing price divided by 500, and two horizontal lines are plotted above and below zero to represent this zone.
The MACD line, Signal line, and MACD histogram are also displayed.
Purpose of Neutral Zone: The neutral zone helps identify areas where the MACD might be in a neutral or indecisive state. It provides a visual cue that may help traders interpret the MACD's movements in relation to price action.
You can use this indicator for market analysis in combination with other tools to identify potential trends, reversals, or indecisive states in the market.
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