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Is this a good scan to narrow divergences in weekly charts ?
[type = stock]
and [optionable is true]
and [Close > 20]
and [Weekly MACD Signal(12,26,9) < -1.0]
and [Weekly MACD Line(12,26,9) < -1.0]
and [Weekly MACD Hist(12,26,9) > 0.0]
and [Weekly MACD Hist(12,26,9) < 0.5]
and [Weekly rsi(14) > 33]
and [Volume > 1,500,000]
0
Comments
MACD measures trend and momentum not divergence.
To determine divergence, compare MACD with price. I use the slope function to accomplish this.
I'm not sure what you mean by narrow divergence because divergence is either present or its not. Maybe you mean to find divergence?
The original intent of divergence is comparing index price with its net advances line.