Scan for finding WEEKLY MACD at excreme levels

Take a look at PPO as a substitute for MACD (see the chart school article).

https://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:price_oscillators_ppo

The problem with MACD is you can't compare it's readings across different symbols. With PPO, you can.

Add PPO to you chart style, find some charts with the situations you are looking for, note the PPO levels, then scan for those levels.

Very good, but needs a few tweaks, as shown:

One more set of brackets around all the OR statements, to isolate them from the AND statements

For ETFs, I think you mean all ETFS except UIs and also no ishares ETFs, so I grouped those two conditions together with brackets. If you don't mean that, move the [name not contains ishares] out of the OR sequence and add it to the ANDs.

On market cap for LSE, you are asking for 100 million in the code, but 1 billion in the comment. You probably want to change one or the other.

For PPO, you need to select which PPO value you are looking at - Line, Signal or Hist, and the parameters you want. You can select the one you want from the Technical Indicators drop down and edit the values (when you insert it, it shows up at the bottom of the scan - you may have to scroll down to see it). I'm assuming you want Hist with default parameters. If you want something different, you can get it from the drop down.

I didn't check the results of running it - just the syntax.




[ // begin OR sequence

[[type = stock] and [market cap > 2000]] // Scan for all securities with Market Cap > $2bn
OR
[type is index] // include in scan all INDX
OR
// Include in scan all ETF's but exclude leveraged & ULTRA & Inverse ETF's and ishares
[[group is ETFNOUI] AND [name not contains "ishares"] ]
OR
[Exchange is CME] // Include all securities on CME
OR
[[exchange is LSE] and [market cap > 100]] // Include all LSE with a Market Cap > 1bn

] // end OR sequence

AND

[exchange is NOT OTCMKT] // Exclude OTC
AND
[exchange is not TSE] // Exclude Canadian listed securities
AND
[Weekly PPO Hist(12,26,9) < -4]


Rank by "Marketcap" // Rank By Market Cap