Sk-Macd Trend

Publication Note for "Sk Macd Trend" IndicatorWe are excited to announce the release of the "Sk Macd Trend" indicator, a robust and versatile tool designed for traders to identify market trends, momentum, and potential reversal points. This indicator, developed by Sujeetjeet1705, is licensed under the Mozilla Public License 2.0 (mozilla.org/MPL/2.0/).Key Features:Wave Trend Oscillator:Customizable channel length, average length, and overbought/oversold levels.
Optional Laguerre smoothing for enhanced signal clarity using a configurable gamma factor.
Visualizes MACD and Signal lines to track momentum and trend direction.

Histogram:Displays the difference between MACD and Signal as a histogram (Hist), with color-coded bars to indicate bullish or bearish momentum strength.
Supports both SMA and EMA for oscillator and signal line calculations, with adjustable signal smoothing.

Trailing Stop:Implements ATR-based trailing stops for bullish and bearish positions, with customizable multiplier and line width.
Option to filter signals based on trend direction (MACD above/below zero).
Visual cues for trailing stop initiations and stop-loss hits, enhancing trade management.

Divergence Detection:Identifies regular and hidden bullish/bearish divergences on both the Signal line and Hist (histogram).
Configurable lookback periods and range settings for precise divergence detection.
Clear visual labels and color-coded plots for easy interpretation of divergence signals.

Usage:Wave Trend Settings: Adjust channel length, average length, and overbought/oversold levels to suit your trading style.
Histogram Settings: Enable/disable the histogram and choose between SMA or EMA for smoothing.
Trailing Stop: Enable trend-based filtering and tweak the ATR multiplier for tighter or looser stops.
Divergence Settings: Customize pivot lookback and range parameters to detect divergences that align with your strategy.

Notes:The indicator is non-overlay and designed for use in a separate panel below the price chart.
Visual elements include MACD and Signal lines, Hist bars, buy/sell signals, trailing stop lines, and divergence labels for comprehensive analysis.
The code is optimized for performance with a maximum of 100 polylines for trailing stops.

Licensing:This indicator is released under the Mozilla Public License 2.0. For details, visit mozilla.org/MPL/2.0/.Acknowledgements:Developed by ©Sujeetjeet1705, this indicator combines advanced technical analysis tools to empower traders with actionable insights. We encourage feedback and suggestions to further enhance its functionality.Happy trading!
Sujeetjeet1705