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Free TradingView indicator

[TP] MACD - Mentor

MACD that keeps a record. Four shades of columns, a gold average line and a labelled zero line, with a small panel that always gives a read (up, down or sideways, and how strong), says why, names the price where the read would be wrong, and shows how past turns played out on this chart. It reads only finished candles, and says plainly that MACD trails price.

Most MACD tools colour the columns and leave the meaning to you. This one counts. Each time MACD turns, it watches the next 20 finished candles and notes what happened: MACD reached zero, turned back, or did neither. Those past turns are marked on the chart, and the panel shows how many reached zero on this chart: "Here: 8 of 18 reached zero." The candle still open is drawn in gold and is not read until it closes.

[TP] MACD - Mentor on a light NAS100 daily chart: the price chart on top and the MACD pane below with four-shade columns, the MACD line, the gold average line, the labelled zero line, small marks on past turns, and the Mentor panel at the top left reading: [TP] MACD, Sideways, slight. Why: MACD is flat, hugging the zero line. Range: 29070.1 to 31365.3 (last 20). Failure risk: Weekly MACD is above zero. Wrong if: a close outside that range. Here: 8 of 18 reached zero. [TP] MACD - Mentor on a dark NAS100 daily chart: the price chart on top and the MACD pane below with four-shade columns, the MACD line, the gold average line, the labelled zero line, small marks on past turns, and the Mentor panel at the top left reading: [TP] MACD, Sideways, slight. Why: MACD is flat, hugging the zero line. Range: 29070.1 to 31365.3 (last 20). Failure risk: Weekly MACD is above zero. Wrong if: a close outside that range. Here: 8 of 18 reached zero.
NAS100 daily, default settings, 22 Oct 2026. A real chart, an example only, not a recommendation.

What it is in 30 seconds

MACD is a quicker average of price minus a slower one. Its columns show whether that gap is growing or shrinking against its own average. It is one of the most used momentum tools there is, and one of the most misread: a red column can mean a turn, or just a dip inside an up move. This indicator says which, in plain words, from finished candles only. It describes momentum that already happened. It does not say where price goes next.

It always gives a read

The panel starts with a read: up, down or sideways, and how strong. Under it, why, and the price where the read would be wrong. On the NAS100 daily chart above: "[TP] MACD | Sideways, slight" and "Why: MACD is flat, hugging the zero line." The columns show building or easing off in four shades.

It waits for the close

The column on the candle still open is drawn in gold and is not read. Every read, mark and alert waits for the candle to close, so nothing changes after you see it.

It is honest about history

It counts how many past turns like this one reached zero here, and says so when it has too few to count. Then a plain limit: "MACD trails price; this is past history."

Each part, up close

Upward and downward momentum are treated the same way throughout. Every read has a mirrored version.

Close-up of the MACD columns on a light NAS100 daily chart: strong and faded green columns above their zero, strong and faded red columns below it. Close-up of the MACD columns on a dark NAS100 daily chart: strong and faded green columns above their zero, strong and faded red columns below it.

Four-shade columns

Each column is the gap between MACD and its average line. Green columns sit above their zero, so MACD is above its average line. Red columns sit below.

  • Strong green: upward momentum, and it is building.
  • Faded green: upward momentum, but it is easing off. Not gone.
  • Strong red: downward momentum, and it is building.
  • Faded red: downward momentum, but it is easing off. Not gone.

A strong shade means the gap is growing. A faded shade means it is shrinking. Faded is not the same as turned. "Show four-shade columns" is on by default.

Back to the chart
Close-up of the MACD line on a light NAS100 daily chart: one plain dark line moving above and below the zero line. Close-up of the MACD line on a dark NAS100 daily chart: one plain light line moving above and below the zero line.

The MACD line

The quicker average of price (12 candles) minus the slower one (26 candles). When price has been rising, the quicker average sits on top and MACD is above zero. When the two averages pull apart, MACD moves away from zero.

It is drawn in one plain colour, so it never looks like a verdict. "Colour MACD around average line" (off by default) colours it green above its average line and red below.

Back to the chart
Close-up of the gold average line beside the MACD line on a light NAS100 daily chart, the two lines crossing once. Close-up of the gold average line beside the MACD line on a dark NAS100 daily chart, the two lines crossing once.

The average line

An average of MACD itself, over 9 candles by default ("Average line length"). It follows MACD more slowly, so the two lines cross from time to time, and the columns change colour when they do. It is the only extra line drawn, in a quiet gold, so the cross is easy to see.

Back to the chart
Close-up of the zero line on a light NAS100 daily chart: a muted horizontal line with the label Zero line at the right edge of the pane. Close-up of the zero line on a dark NAS100 daily chart: a muted horizontal line with the label Zero line at the right edge of the pane.

The zero line

A muted line, labelled "Zero line" at the right edge. It gives MACD's second read: which side of zero the MACD line is on. The panel uses it to sort turns. A turn down while MACD is above zero, or a turn up while it is below zero, is the kind it counts. The Full panel names the last one (NAS100 daily, 17 Oct 2026):

Last turn, NAS100 daily"Turned down above zero, 3 candles ago."

The mirror reads like this on the NAS100 15-minute chart: "Turned up below zero, 4 candles ago." Each turn is then followed for 20 finished candles: did MACD reach zero, or turn back first? A turn above zero can be a slowdown inside an up move, and the panel says so: "Above zero, turns can stall before zero."

Back to the chart
Close-up of the Standard Mentor panel on a light NAS100 daily chart: [TP] MACD, Sideways, slight. Why: MACD is flat, hugging the zero line. Range: 29070.1 to 31365.3 (last 20). Failure risk: Weekly MACD is above zero. Wrong if: a close outside that range. Here: 8 of 18 reached zero. A turn can fade before zero is reached. Closed candles, last 500. Not advice. Close-up of the Standard Mentor panel on a dark NAS100 daily chart: [TP] MACD, Sideways, slight. Why: MACD is flat, hugging the zero line. Range: 29070.1 to 31365.3 (last 20). Failure risk: Weekly MACD is above zero. Wrong if: a close outside that range. Here: 8 of 18 reached zero. A turn can fade before zero is reached. Closed candles, last 500. Not advice.

The Mentor panel

It sits at the top left of the MACD pane by default, so price stays clear. The picture is the NAS100 daily chart at the top of this page, 22 Oct 2026: a Sideways read, so it also shows its range, "Range: 29070.1 to 31365.3 (last 20).", and "Wrong if: a close outside that range." On a trending chart the default Standard panel reads top to bottom like this (a NAS100 1-hour replay):

  • The header, always a read: Up, Down or Sideways, and how strong: "[TP] MACD | Up, moderate"
  • Why: "Why: above zero and above its average line."
  • The main risk to the read: "Failure risk: higher high, lower MACD high."
  • Where the read would be wrong: "Wrong if: a close below 30123.7."
  • How many past turns reached zero on this chart: "Here: 7 of 12 reached zero."
  • A teaching line: "MACD trails price; this is past history."
  • The footer: "Closed candles, last 500. Not advice."

Every number in it comes from this chart. It never prints a MACD number. How to read the counts: this chart's own history. More on what it says to you at every level.

Back to the chart
Close-up of the bigger picture on a light XAUUSD four-hour chart: the quiet stepped line of the Daily MACD, below zero. Close-up of the bigger picture on a dark XAUUSD four-hour chart: the quiet stepped line of the Daily MACD, below zero.

The bigger picture

"Show the bigger picture" is on by default. It reads MACD from one longer candle length, using only its last finished candle. On Auto, "Longer candle length" picks the next useful one: Weekly on a daily chart, Daily on a 4-hour chart. "Draw the bigger-picture line" adds it as a quiet stepped line. It ships off, because the longer MACD is often much larger and squeezes this chart's MACD.

Back to the chart
Close-up of a price and MACD difference on a light chart: a line between two finished turns in the MACD pane and a matching line on price going the other way. Close-up of a price and MACD difference on a dark chart: a line between two finished turns in the MACD pane and a matching line on price going the other way.

Price and MACD differences, off by default

When price makes a higher high but MACD makes a lower high, the push up had less force the second time. "Show price and MACD differences" draws that as a line in the pane and a matching line on price. The mirror is a lower low in price with a higher low in MACD. Many traders call this divergence.

A turn only counts once 5 finished candles follow it, so the line appears late and never moves. Turns must be 5 to 60 candles apart. The lines are drawn on the chart and have their own alerts. They are evidence, not proof, and the panel does not count them.

Back to the chart
Close-up of momentum turn marks on a light NAS100 daily chart: small Turned up and Turned down marks in the MACD pane where finished columns changed direction. Close-up of momentum turn marks on a dark NAS100 daily chart: small Turned up and Turned down marks in the MACD pane where finished columns changed direction.

Momentum turns, off by default

"Show momentum turns" marks where finished columns change direction, at most once every 20 candles each way ("Candles between matching turns"). These are changes of pace in the columns, not proof of a trend. They are not the turns the panel counts: those are MACD crossing its average line, described in this chart's own history.

Back to the chart
Close-up of the MACD line coloured around its average line on a light NAS100 daily chart: green while above the gold line, red while below it. Close-up of the MACD line coloured around its average line on a dark NAS100 daily chart: green while above the gold line, red while below it.

MACD coloured around its average line

Off by default. "Colour MACD around average line" colours the MACD line green while it is above its average line and red while it is below. It shows the same thing as the column colour, on the line itself.

Back to the chart

Two panel layouts

Standard (default)

The header read, Why, one risk line, Wrong if (a Sideways read also shows its range), how many past turns reached zero on this chart, a teaching line, and the footer.

Full

Everything in Standard, plus the last MACD turn and how long ago, what backs the read ("Backing: this chart only."), and the legend for the marks.

Optional extras, all off by default

The default pane keeps the columns, the two lines, the zero line and the panel. Switch these on when you want them.

Differences

Lines where finished price turns and MACD disagree, in the pane and on price.

Momentum turns

"Turned up" and "Turned down" marks, at most once every 20 candles each way.

Bigger-picture line

The longer length's MACD as a quiet stepped line. The panel sentence is on either way.

Line look

"Colour MACD around average line" off by default. "Line thickness" 1 to 4, 2 by default. Colours stay in the curated Paper and Ink palettes.

This chart's own history

Version 2.0 keeps a record. Each time MACD crosses its average line below zero (a turn up) or above zero (a turn down), the Mentor follows that turn for 20 finished candles and notes what happened. The panel then counts how many of those turns reached zero on this chart. It is history, not a forecast.

The marks

Each finished turn gets one small mark on its own candle, on the MACD line:

  • ● reached zero within 20 candles
  • ■ turned back: MACD crossed back over its average line first
  • ○ neither within 20 candles

The last 12 are marked and older ones fade. A turn still inside its 20 candles is not counted yet. "Mark past events" hides the marks without changing the count. Full adds the legend: "● reached ■ back ○ neither (last 12)".

Reading the count

The count says how many past turns of this kind reached zero on this chart, as on the AAPL weekly chart:

"Here: 5 of 19 reached zero."

19 is every turn of this kind counted on this chart. 5 of them reached zero within 20 candles. The marks show the rest: the ones that turned back first, and the ones that did neither.

Always a read

The header always gives a read: Up, Down or Sideways, with how strong it is (slight, moderate or strong). Strength is how much of this MACD's evidence agrees on this chart, not a forecast. The Wrong if line gives the price where the read would be wrong, and the read changes only after 2 closes in a row. The count stays separate history, as on the NAS100 daily chart: "Here: 7 of 17 reached zero." You weigh both.

Too few to count

Under 8 finished turns the panel only says how many it has, because a handful of cases can look one-sided by chance, as on the EURUSD 1-hour chart: "Too few here to count yet (6)."

These counts describe what past turns did on this chart over the last 500 finished candles. They do not say what the next turn will do. The Wrong if line names the price where the read would be wrong, such as "Wrong if: a close outside that range." on the NAS100 daily chart, 22 Oct 2026.

How the Mentor helps you at every level

Same indicator, same panel. What you take from it grows with you. The quoted lines are the panel's own words on the charts behind this page.

  1. Level 1

    Beginner

    What gets in the way

    • Green and red columns, with no idea what a shade means.
    • Reading every red column as a turn down.
    • Two lines and a zero line, none explained.

    The habit it builds: putting the last finished column into words before reading anything else.

    What the Mentor says

    Last turn"Turned down above zero, 3 candles ago."

    Teaching line"A turn can fade before zero is reached."

  2. Level 2

    Intermediate

    What gets in the way

    • Mixing up the columns' zero and the MACD line's zero.
    • Reading the live column as if the candle had closed.
    • Forgetting that a longer length can say something else.

    The habit it builds: reading the colour and the side together, from finished candles, with one look at the bigger picture.

    What the Mentor says

    Side of zero"Above zero, turns can stall before zero."

    The header"[TP] MACD | Up, moderate"

  3. Level 3

    Advanced

    What gets in the way

    • Treating a difference between price and MACD as proof.
    • Drawing a difference from a turn that is not finished.
    • Trusting crosses in a market that keeps flipping.

    The habit it builds: finished turns only, every event read as evidence, and the other side's count read every time.

    What the Mentor says

    The count, AAPL weekly"Here: 5 of 19 reached zero."

    Too few, EURUSD 1-hour"Too few here to count yet (6)."

  4. Level 4

    Expert

    What gets in the way

    • Fatigue: the tenth chart of the day gets less care than the first.
    • Forgetting that every MACD read is late.
    • Tuning lengths until an old chart looks right.

    The habit it builds: a steady second pair of eyes: the same plain read on every chart, with its limit every time.

    What the Mentor says

    Where the read is wrong, NAS100 daily"Wrong if: a close outside that range."

    Footer"Closed candles, last 500. Not advice."

It reads both kinds of turn

Turn up Below zero

Followed until it reaches zero or turns back.

"Turned up below zero, 4 candles ago."

Turn down Above zero

Read exactly the same way, mirrored.

"Turned down above zero, 3 candles ago."

Sideways Most went nowhere

Caution comes before up or down.

"A turn can fade before zero is reached."

Three things to remember

  1. Name it first. Say the last turn in words: which way, which side of zero, how long ago.
  2. Read the count. How many past turns here reached zero, and how many did not. Under 8 turns there is only a tally.
  3. MACD trails price. Every read is late and can fail, most of all in a sideways market.

Honest about timing, honest about limits

Why it waits for the close

A column on an open candle can flip colour and back before the close. So every read, mark and alert uses finished candles, and the live column stays gold. The bigger picture uses the last finished candle of the longer length, never the one still forming. A price turn only counts once 5 candles after it have closed, so a difference line appears late and never moves. A MACD turn joins the count only after its 20 candles have closed.

What it does not do

No background colours, no stacked timeframes, no colour that means an outcome, and no MACD numbers in the panel. No claim that a cross or a difference leads anywhere. MACD is built from averages, so it always trails price, and in a sideways market it flips often.

Different lengths give different reads on the same chart. None is wrong: they measure different paces.

XAUUSD four-hour chart with the MACD pane below: faded green columns above zero, the MACD line and the gold average line, and the Mentor panel at the top left.
Gold, four-hour: faded green columns above zero, upward momentum easing off.
A NAS100 daily chart at phone width: the Mentor panel stays readable at the top left of the MACD pane.
At phone width the panel stays readable in its own pane.

Settings

The defaults are the classic MACD and work out of the box. These are the ones worth knowing.

On a small screen, swipe the table sideways to see every column.
SettingWhat it doesDefault
Price to useThe price used by both averages.Close
Quicker average length / Slower average lengthThe two averages behind MACD. The quicker one must be shorter, or the panel reads "Waiting for enough finished candles."12; 26
Average line lengthHow many MACD candles the average line follows. A bigger number reacts more slowly.9
Method for the two averages / Method for the average lineEMA gives more weight to recent candles. SMA gives every candle equal weight.
EMASMA
EMA; EMA
Show MACD line / Show average line / Show four-shade columnsOne switch each.On
Colour MACD around average lineColours MACD green above its average line and red below.Off
Line thicknessThickness of the MACD, average and bigger-picture lines, 1 to 4.2
Show the bigger picture / Longer candle lengthMACD from a longer length, from its last finished candle, as one line in the Full panel. Auto picks the next useful length.
Auto1 hour4 hoursDailyWeeklyMonthly
On; Auto
Draw the bigger-picture lineDraws the longer length's MACD as a quiet stepped line.Off
Flat change allowance / Candles to check / Changes needed for choppyHow small a column change counts as flat, as a share of the recent price range. The other two are kept from version 1 and do not change the panel.0.01; 20; 6
Show price and MACD differences / Draw matching lines on priceLines where finished price turns and MACD disagree, in the pane and on price.Off; On
Candles before a turn / Candles after a turn / Fewest and Most candles between turnsHow a price turn is found, and how far apart two turns may be.5; 5; 5; 60
Show momentum turns / Candles between matching turns"Turned up" and "Turned down" marks, and the fewest candles between two marks the same way.Off; 20
Mark past events / Past events to mark / Show still-open eventNeutral marks on finished MACD turns, how many to show (0 to 30), and one faint ring while a turn's 20 candles are still open. The count uses the last 500 finished candles either way.On; 12; Off
Show the Mentor panel / Panel detailShows or hides the panel. Standard keeps the core read. Full adds the bigger picture, what would change the read, and the legend for the marks.
StandardFull
On; Standard
Where to put the panelNine places in the MACD pane.
Top LeftTop CenterTop RightMiddle LeftMiddle CenterMiddle RightBottom LeftBottom CenterBottom Right
Top Left
Panel text sizeThe size of the words in the panel.
TinySmallNormalLarge
Small
Panel coloursAuto follows your chart background, or force Light or Dark.
AutoLightDark
Auto

Every setting has a small (i) next to it. Hover over it, or tap it on a phone, and it explains that setting in plain English, right there on your chart.

Macd mentor settings tooltip
The (i) next to Longer candle length, opened. Captured from the published script.
See the whole settings window

Open it by double-clicking the indicator's name on your chart. Top to bottom, at the defaults:

Settings, part 1: the MACD group: Price to use, Quicker average length, Slower average length, Average line length, the two methods, the three show switches, Colour MACD around average line and Line thickness.
1. MACD
Settings, part 2: the Bigger picture, When momentum is flat, Price and MACD differences and Momentum turns groups.
2. Bigger picture, flat, differences, turns
Settings, part 3: the Mentor panel group (Show the Mentor panel, Panel detail, Where to put the panel, Panel text size) and the Panel colours group.
3. Panel and colours
Light or dark, it matches

The indicator's colours come in a warm light and a warm dark palette. Light uses Paper and Dark uses Ink. With "Panel colours" on Auto, the Mentor reads your chart background and picks the right one. There are no free colour pickers, so the pane never turns into a rainbow.

Alerts

Each alert says what happened and waits for the candle to close. Eight conditions are in TradingView's alert dialog. None of them tells you what to do.

  • MACD moved above its average lineThe finished candle moved MACD above its average line.
  • MACD moved below its average lineThe finished candle moved MACD below its average line.
  • MACD moved above zeroThe finished candle moved MACD above zero.
  • MACD moved below zeroThe finished candle moved MACD below zero.
  • Momentum turned upMomentum turned up after the finished candle.
  • Momentum turned downMomentum turned down after the finished candle.
  • Price and MACD differed upwardThe finished turns show a lower price low and a higher MACD low.
  • Price and MACD differed downwardThe finished turns show a higher price high and a lower MACD high.

Open TradingView's alert dialog, pick this indicator in the condition box, and choose the condition by name. The turn alerts keep the 20-candle gap between marks the same way.

Learn more

Start with the lesson, then watch the indicator explained.

Foundry lesson

Reading MACD

The two averages, the average line, the four shades, the two zeros, finished and live candles, why MACD always trails price, the bigger picture, this chart's own history, differences between price and MACD, and what MACD can never tell you. Concept first, indicator second, with a quiz.

Open the lesson
Trading journal

Keep a study log

Note the last finished column in words, the side of zero, and what price did over the next candles, right or wrong. Over time your own notes show you more than any single chart.

Coming soon

Watch it explained

Video · 2:37How to read [TP] MACD - MentorEvery part of the indicator, one at a time, on real charts: the four shades, the MACD and average lines, the zero line, the gold column, and what the Mentor panel is telling you.
Video · 2:23MACD explainedWhat MACD is built from, what the columns and the zero line each say, and why it always trails price, in plain English. Concept first, then the indicator. Read the full lesson

One concept, read well

[TP] RSI - Mentor, [TP] Volume - Mentor, [TP] Market Structure - Mentor, [TP] Trend - Mentor, [TP] VWAP - Mentor, [TP] Fibonacci - Mentor, [TP] Bollinger Bands - Mentor, [TP] Regime - Mentor, [TP] Market Board - Mentor, [TP] Order Blocks - Mentor, [TP] Support and Resistance - Mentor, [TP] Volume Profile - Mentor, [TP] Elliott Wave - Mentor and [TP] MACD - Mentor each read one thing deeply, for free. Markets rarely move on one thing. The full Titan suite reads them together: momentum, volume, trend structure and flow, combined into one plain-English read.

Questions

Is it free?

Yes. [TP] MACD - Mentor is free on TradingView. Add it from the Indicators menu. Nothing is locked.

Is it the same MACD as the built-in one?

Yes. With the defaults (12, 26, 9, EMA) the MACD line, the average line and the columns match TradingView's built-in MACD exactly. What it adds is the four shades, the gold live column, and the plain-English panel.

Does it repaint?

No. Every read, mark and alert waits for the candle to close. The column on the candle still open is gold and is not read. The bigger picture uses only the last finished candle of the longer length.

What does "Turned down above zero" mean?

MACD crossed below its average line while both lines were above zero. That is one of the two kinds of turn the panel counts; the mirror is "Turned up below zero". The Mentor then follows it for 20 finished candles: did MACD reach zero, or cross back over its average line first? A turn above zero can be a slowdown inside an up move, so the panel never calls it a reversal.

Why is the newest column gold?

Its candle is still open, so it can change until the close. Gold means "not read yet". Once the candle closes, it takes its shade.

What is the bigger picture?

MACD from one longer candle length, from its last finished candle: Weekly on a daily chart, on Auto. "Draw the bigger-picture line" shows it as a quiet stepped line. It adds context, not certainty.

What are price and MACD differences?

Places where finished price turns and MACD disagree, often called divergence. They are off by default. When on, they are drawn as lines and have their own alerts. Read them as evidence, not proof, because they can last a long time in a strong trend.

Why does it keep saying MACD trails price?

Because it always does. MACD is built from averages, so it moves after price. That lag never goes away, so the panel's teaching lines keep saying it, for example "MACD trails price; this is past history."

Does it tell me when to act?

No. It gives a read of where MACD is now, with the price where that read would be wrong, and counts how many past turns reached zero on this chart. That is history, not where price will go. Decisions stay with you.

Why does it say "Too few here to count yet"?

Because the count needs at least 8 finished turns on this chart. With fewer, a run of luck can look like a pattern, so the panel shows only how many it has. It fills in as the chart builds history.

The panel takes up too much room. What can I do?

Standard, the default, keeps the core read. "Panel text size" goes down to Tiny, "Where to put the panel" has nine places in the pane, and "Show the Mentor panel" switches it off. Making the MACD pane taller also helps.

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