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Comparing weekly MACD scans

I’m trying to detect when weekly MACD is rising, in other words, this week is higher than last week. This is what I tried, but it’s not matching perfectly with my chart list.

Is it correct?

[weekly MACD Line(12,26,1) > last week's weekly MACD Line(12,26,1)] and [favorites list is 37]

I’m also wondering what weekly references in scans return in the middle of the week. Does it substitute the current price for current weekly close?




  • lmkwinlmkwin ✭✭
    I believe that it does use the current close for the weekly number computation. You can check by using a weekly chart and comparing to the daily chart. Note that the prices showing on the weekly are the weekly prices (open/high/low/close). So, until this week's weekly number is completed, the data for this week in progress is used. Today's activity effecting the moving averages that the MACD is based off.

    Also, from a scanning formatting standpoint, move your Favorites list to the beginning. Always try to build your scan by first telling the scan engine to look at THIS, and then narrow THIS by THAT.

    //Look at THIS
    [favorites list is 37]

    //narrow THIS with THAT
    and [weekly MACD Line(12,26,1) > last week's weekly MACD Line(12,26,1)]
  • Just one addendum to @lmkwin 's answer -

    A "week" means a calendar week, not 5 trading days (or 7 calendar days) ago from today. So, when you are evaluating scan results, you would compare the scan date's value (e.g., if midweek, Wednesday's close) to the previous FRIDAY's closing value - NOT the previous Wednesday's value.

    I'm just guessing that might account for the discrepancies you noticed.
  • Now that the week is closed, I’m seeing the scan just doesn’t work. It’s reporting something else. I did the favorites first, and I’m still getting results for declining MACD and missing results for rising MACDs
  • lmkwinlmkwin ✭✭
    do you have examples of the symbols to take a look at?
  • lmkwinlmkwin ✭✭
    throw a Rank By line on your scan

    rank by [weekly MACD Line(12,26,1) - last week's weekly MACD Line(12,26,1)]

    This will display the value difference in a separate column of the results
  • Well, I tried a few things including the suggestions given here, and it seems to be working now. But I’m not sure what I changed that did the job. I’m sure it’s operator error. Thanks for the help
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