Registered User
Joined: 11/18/2008
Posts: 7
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I would like to create two scans.
#1) Scan for an incomplete DT/DB in price with MACD diverging from the price direction in the opposite direction. I want to be see stocks with prices almost at a DT with the MACD headed in the down direction (indicating price will roll over and go down and visa versa with the DB).
#2) I would like to create a condition to find stocks that are plunging hugely down on the Monthly and Weekly in price, with the MACD plunging down as well on the Monthly and Weekly charts. However, I want the Daily MACD (on the Daily price chart) to be headed up. My purpose here is to find stocks extremely weak, with the daily going counter to that. My goal is to spot them before the price rolls back over and head down on the daily, as the daily charts trys to get back in sync with the longer term Monthly/Weekly downward trend.
Can these conditions be created in Blocks. Thank You.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Detecting a generalized double top or double bottom is beyond my capabilities.
Over what time frame (number of bars) are the Monthly, Weekly and Daily charts plunging down or heading up?
What is your objective definition of "plunging hugely down"?
-Bruce
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Registered User
Joined: 11/18/2008
Posts: 7
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1) I hate to hear that we cannot scan for DT/DB. That would have been a time saver vs having to manually scan a large number of stocks charts daily to keep from missing that DT/DB setup. It would be even greater to scan for DT/DB on the weekly charts - this would point us toward longer term trading opportunities as well.
2) The time frame I'm referring to on the Monthly and Weekly heading down, is not a set number of ie. Months or weeks. What I'm looking for when I say hugely, is a parabolic downward slope of the MACD that visually appears to be dropping harder tand faster han the price (on the Monthly and Weekly charts). I am looking for the Daily MACD Indicator to be in an upward trend (with M&W down) - that appears to be and interuption of the longer term Weekly and Monthly MACD/Price Charts. In summary, hugely means MACD decline (visually) appears more pronounced and ahead of the price charts decline.
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