OPEN-SOURCE SCRIPT

MACD Killer Indicator with SuperTrend and RSI

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The "MACD Killer Indicator with SuperTrend and RSI" is a comprehensive trading tool designed for technical analysis on TradingView. This script incorporates three powerful indicators: the MACD (Moving Average Convergence Divergence), SuperTrend, and RSI (Relative Strength Index) to generate buy and sell signals.
  • MACD is used to determine the momentum of the asset, signaling entry points when the MACD line crosses above the signal line.
  • The SuperTrend adds a layer of trend detection, ensuring that trades are executed in the direction of the prevailing trend, indicated by the SuperTrend line's color (green for uptrend, red for downtrend).
  • RSI is employed to filter out overbought conditions, limiting buy signals when RSI is below 73.

This indicator effectively mitigates consecutive signals of the same type, helping traders avoid false entries and exits. The visual elements, including clearly marked buy and sell signals and background color changes, enhance the user experience, making it easier to spot actionable trade opportunities on the charts.

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