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Registered User
Joined: 11/18/2005
Posts: 29
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I have created an indicator in Stockfinder that is the difference between 2 moving averages of price (in a separate pane). In this indicator pane i have also put its 50 day moving average. I was trying to figure out how I could also put an overbought oversold oscillator or envelope in this indicator pane based on its deviation from the 50 day moving average. Any ideas?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I'm not quite understanding how this would be different from a MACD.
Understanding MACD and MACD Histogram
If it is a MACD, you could just Drag and Drop a MACD Histogram into the same Pane as the MACD and select Overlay. Then right-click on the MACD Histogram and select Scaling | Scale With | MACD.
-Bruce
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Registered User
Joined: 11/18/2005
Posts: 29
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if i understand this correctly, the MACD only would show the relationship between the 2 lines and whether one is above the other. i don't think it would tell you how far above the moving the indicator has gone in the past which is what i am looking for. let's say for instance that the indicator has never been greater than 20% above the moving average, then one could expect a reversal in trend at around 18% above the moving average.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Adding a Stochastics of Indicator with a very long Period to the MACD Histogram may do what you want.
Working with Stochastics
That said, your mention of a percentage may make Price Percentage Oscillator (PPO) and Histogram better options for the parent. The PPO is essentially a MACD expressed as a percentage of the Long Moving Average.
If that does not do what you want, you will need to provide an unambiguous objective description of the Indicator you wish to construct as the trainers can't give setting, interpretation or investment advice.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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