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Registered User
Joined: 10/7/2004
Posts: 6
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Good evening.
Thank you for helping me with Williams %R. I have added it to my TeleChart and it works very well.
Could you help me write another formula and easy scan for momentum divergence? Thank you.
Spreader
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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What is a "momentum divergence"?
- Craig
Here to Help!
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I think he means a divergence in the indicator "momentum" with is just rate of change of price. I'm using
(C/CX)*100 with a 4 period Exponential.
Or you could use "Rate of change of price" almost the same indicator... just represents the numbers slightly differently.
Only butted in because it would be interesting to me to see the solution.
My past forays into scanning for divergences have lead me to believe that sorting for them was generally a bit easier if not more affective.
Using Linear Regression Sorts to Help Spot Divergences
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Registered User
Joined: 10/7/2004
Posts: 6
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[QUOTE=Craig_S]What is a "momentum divergence"?
Craig,
I pasted this definition from Headley's website. I'm using blocks. I've maped stochs on top of MACD and I got something similar but not quite.
Price Headley created Momentum Divergence as a method to compare how strong a stock's price action is compared to the stock's underlying momentum. This indicator takes the Moving Average Convergence Divergence (MACD) indicator with the standard 12,26,9 setting and converts MACD on a scale from 0 to 100, similar the stochastics or RSI oscillators. Headley's preferred settings for the Momentum Divergence lookback period are 15 and 40 bars.
Thanks.
Spreader
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Spreader,
I believe Price Headley takes a 40-Period Stochastic of the MACD. While it is fairly trivial to do this using Blocks, I do not know of a practical method for creating this in TeleChart.
-Bruce
Personal Criteria Formulas
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