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I'm looking for a scan that will identify equities when the weekly MACD signal line goes from flat to up.
Ideally, I would like an MACD line that is falling, goes flat and then turns up.
I'm not looking for a cross.
Thanks for any help.
You would want to test for today's indicator value is greater the x periods ago for the same indicator, and then x periods' ago indicator value is less than y periods ago value, where y is more than x.
So maybe today's value is greater than 3 weeks ago value, and 3 weeks ago value is less than 10 weeks ago value. Or whatever combination you find that picks up situations you want.
Start with some kind of universe, like
[group is sp500]
then select your indicator (in your case, MACD Signal - or MACD LIne?) from the drop down for technical indicators and edit. Your next statements will be
and [ weekly indicator(...) > x weeks ago weekly indicator(...)]
and [ x weeks ago weekly indicator(...) < y weeks weekly indicator...)]
You need the word "weekly" before the (indicator) because the scan engine assumes you mean daily, unless you say otherwise.
Thanks for your help, I tweeked your input until I got what I wanted. If that is a form of calculus, no wonder I flunked it.