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wallstreetd
Posted : Wednesday, May 16, 2012 5:53:24 PM
Registered User
Joined: 7/5/2005
Posts: 2

Can a PCF be written on an hourly and /or daily chart that shows divergence in the upper price chart from an indicator in a lower chart.

I would like to look for stocks on a hourly chart where divergence exists between price and TRIX 8,5, but only after price has crossed the 12ema.

Is this doable?  And BTW, thanks for your reply back on 5/4/12 on the ema PCF.

Bruce_L
Posted : Thursday, May 17, 2012 8:02:46 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

Click on Price and select Create Scan Condition. Then select Moving Up from the Condition drop-down menu (Net, % or Smart would do, but I'd start with Smart). Then set the Period of the Condition to the number of bars over which you wish to check for a divergence.

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Then do the same thing with the TRIX indicator, but Moving Down instead of Moving Up.

You can then add both the Conditions to the same EasyScan along with a Condition for Price being Above or Below (depending on your requirements) its 12-Period Exponential Moving Average using the same technique used to create the other Conditions (click on Price and select Create Scan Condition).

Checking for a divergence where Price was Moving Down and Trix was Moving Up would just be a matter of switching around how you created the Conditions.



-Bruce
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