OPEN-SOURCE SCRIPT
Updated MACD 6-20 Fast MACD with Signal Arrows
MACD 6/20 — Fast MACD with Signal Arrows
A faster MACD variant using EMA 6/20 instead of the standard 12/26 settings, with a 9-period signal line. Designed for traders who want earlier trend detection and quicker crossover signals.
What it does:
This indicator plots the MACD line (EMA 6 minus EMA 20) against a 9-period EMA signal line, with a color-coded histogram and visual crossover arrows.
Features:
- MACD line (blue) and Signal line (orange)
- Histogram: green when MACD > Signal, red when MACD < Signal
- Green triangle arrows at bullish crossovers (MACD crosses above Signal)
- Red triangle arrows at bearish crossovers (MACD crosses below Signal)
- All parameters adjustable (Fast Length, Slow Length, Signal Smoothing)
- Histogram can be toggled on/off
Why 6/20 instead of 12/26?
The shorter EMA periods make the indicator more responsive to price changes. The 6/20 combination catches trend shifts earlier than the standard MACD, which is useful for swing trading and intraday setups. The trade-off is more signals — filter with higher timeframe context or price action confirmation.
How to use:
- Bullish signal: green arrow (MACD crosses above Signal)
- Bearish signal: red arrow (MACD crosses below Signal)
- Histogram expansion confirms momentum
- Works on all timeframes — best combined with multi-timeframe analysis (e.g. Weekly/Daily for direction, 5min for entries)
Settings:
- Fast Length: 6 (default)
- Slow Length: 20 (default)
- Signal Smoothing: 9 (default)
- Source: Close (default)
A faster MACD variant using EMA 6/20 instead of the standard 12/26 settings, with a 9-period signal line. Designed for traders who want earlier trend detection and quicker crossover signals.
What it does:
This indicator plots the MACD line (EMA 6 minus EMA 20) against a 9-period EMA signal line, with a color-coded histogram and visual crossover arrows.
Features:
- MACD line (blue) and Signal line (orange)
- Histogram: green when MACD > Signal, red when MACD < Signal
- Green triangle arrows at bullish crossovers (MACD crosses above Signal)
- Red triangle arrows at bearish crossovers (MACD crosses below Signal)
- All parameters adjustable (Fast Length, Slow Length, Signal Smoothing)
- Histogram can be toggled on/off
Why 6/20 instead of 12/26?
The shorter EMA periods make the indicator more responsive to price changes. The 6/20 combination catches trend shifts earlier than the standard MACD, which is useful for swing trading and intraday setups. The trade-off is more signals — filter with higher timeframe context or price action confirmation.
How to use:
- Bullish signal: green arrow (MACD crosses above Signal)
- Bearish signal: red arrow (MACD crosses below Signal)
- Histogram expansion confirms momentum
- Works on all timeframes — best combined with multi-timeframe analysis (e.g. Weekly/Daily for direction, 5min for entries)
Settings:
- Fast Length: 6 (default)
- Slow Length: 20 (default)
- Signal Smoothing: 9 (default)
- Source: Close (default)
Release Notes
Update: MACD line now changes color based on signal crossover:
- Green when MACD is above signal line, red when below.
- Signal line changed to gray for better contrast.
- Arrow signals unchanged.
Release Notes
minor Colour updatesRelease Notes
layoutOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.