As a follow-up to my previous script: I am posting a stand-alone KST-based MACD.
Note that this indicator is highly laggy. Specific care must be taken when using it. The MACD-Signal crossing is quite delayed but it is a definite confirmation.
For earlier signs, the Histogram must be analyzed. A shift from Green-White signals the 1st Bear Signal. A MACD-Signal crossing signals the 2nd Bear SIgnal. The same applies for bull-signs.
This indicator is useful for long-term charts on which one might want to pinpoint clear, longterm divergences.
Standard RSI, Stochastic RSI and MACD are notoriously problematic when trying to pinpoint long-term divergences.
Finally, this indicator is not meant for pinpointing entry-exit positions. I find it useful for macro analysis. In my experience, the decreased sensitivity of this indicator can show very strong signs, that can be quite laggy.
Inside the indicator there is a setting for "exotic calculations". This is an attempt to make this chart work in both linear/negative charts (T10Y2Y) and log charts (SPX)
Tread lightly, for this is hallowed ground. -Father Grigori
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Minor code change.
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Added a ribbon, I love that stuff...
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Aesthetic changes.
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Updates in default values to make the indicator more responsive, while keeping it beautiful.
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Added copyright. I love that indicator.
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Now KST is calculated using EMA by default. This is done for increased sensitivity. You can always revert back to SMA.