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Scan for Positive Divergence on MACD Rate this Topic:
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li2mcmug
Posted : Sunday, June 17, 2012 1:36:13 AM
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Joined: 1/21/2012
Posts: 2

How can I scan for a positive divergence on the 3, 35, 5 MACD (Exponential) using a weekly chart, and on last 10 bars?

 

Bruce_L
Posted : Monday, June 18, 2012 8:34:45 AM


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

It would depend on your particular unambiguous objective definition of divergence, but let's start with a fairly simple way to search for a divergence between Price and MACD over the most recent 10-bars.

Click on Price and select Create 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 (in this case, 10).

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

You can then add both the Conditions to the same Scan. Checking for a divergence where Price was Moving Down and MACD was Moving Up would just be a matter of switching around how you created the Conditions.



-Bruce
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