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Hi, I,m from Belgium, nice to meet You,
I made a chartlist of scans (Stockcharts.com), with the intention to find stocks which show me candidates for Bullish divergences between prices and the MACD-Histogram on the weekly charts. This gives good results but I have a question:
When I use this chartlist and open the GALLERY-view to control the stocks quickly; I have only for those weekly charts the PPO (6,12,9) indicator and not the MACD- Hist (12,26,9). For example: take the ticker JBL (Jabil Circuit, Inc) and ond the right edge of the weekly PPO (6,12,9) indicator You, now, see a beauty of a bullish divergence. But if I plot the MACD-Histogram on the weekly for JBL, I see not that divergence at all.
My question now: Can I stay still using that PPO (6,12,9) indicator on the weekly's or, do I have to use the MACD-Histogram (12,26,9) for scanning the Bull-divergences? Thus: is PPO as good an reabily as the MACD-Hist for those divergences???
I hope You can understand the language I use.