Create pine code, macd 5 and 15 days based on hull moving average
9/17/2024 01:27am
Here is the Pine Script code to create a MACD indicator using Hull Moving Averages for the 5-day and 15-day periods:
```scss
//@version=4
study("Hull Moving Average MACD", shorttitle="HMA MACD", overlay=true)
// Input parameters
hma5_length = input(5, title="HMA 5 Length", type=input.integer)
hma15_length = input(15, title="HMA 15 Length", type=input.integer)
// Calculate Hull Moving Averages
hma5 = hull(hma5_length)
hma15 = hull(hma15_length)
// Calculate the MACD
macd_line = ema(hma5 - hma15, 9)
// Plot the MACD line
plot(macd_line, color=color.blue, linewidth=2)
// Add the MACD to the plot
plot(hma5 - hma15, color=color.red, linewidth=2)
```
This code defines a Pine Script function called `hull` that calculates the Hull Moving Average for a given period. The function takes in the length of the period as an input parameter and returns the calculated Hull Moving Average.
The code then calculates the 5-day and 15-day Hull Moving Averages using the `hull` function and subtracts the two values to calculate the MACD. The MACD is then plotted as a blue line, and the original Hull Moving Averages are plotted as a red line. The `overlay=true` parameter is used to ensure that the MACD line is plotted on top of the Hull Moving Averages.