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MACD Turning Up

MCP
MCP ✭
in Scanning
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.


Mark

Comments

  • markd
    markd mod
    edited July 2015
    Few indicators actually go literally flat, so you probably don't really want to test for that.

    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.


  • MCP
    MCP ✭
    markd

    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.

    thanks again
  • markd
    markd mod
    edited July 2015
    Well, actually, it's sort of pseudo-algebra, I think. I never got to calculus... or trig... long story.

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