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Elder's MACD-H divergence SCAN
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Elder's MACD-H divergence SCAN

  #1 (permalink)
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Elder's MACD-H divergence SCAN

Anybody knows if there is a TOS version?

Elder.com: Education for Intelligent Traders

Thanks.

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  #2 (permalink)
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Anybody has anything semi useful for this?

He describes his scan as semi automatic because it detects the first high/low of the MACD - H , the crossover through the zero line and the beginning of the third a final MACD-H value

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  #3 (permalink)
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for example....I found this:

Simple divergence scans can be created by selecting (somewhat arbitrarily) a time duration (5 days for example) and seeing if prices have increased by more than a given percentage while the associated indicator has decreased by a different given percentage. Here's a sample scan that uses that technique:

[type = stock] and [close > 1.0] and [volume > 40000] and [close > 5 days ago close * 1.025] and [[[macd line(12,26,9) - 5 days ago macd line(12,26,9)] / AbsVal(5 days ago macd line(12,26,9))] < -0.08 ]

In this example, the price must have increased by at least 2.5% over the past five days, while the MACD value must have decreased by at least 8%. (Note: The advanced scan interface must be used because a function of a function (i.e., AbsVal of the MACD) is needed.)

While this technique is easy to program into a scan engine, its results are hit-and-miss. Many of the charts returned by this kind of scan are not really experiencing a negative divergence. A visual review of all stocks returned by this kind of scan is a necessity.





Can anybody transcode this to ThinkorSwim?

thanks

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  #4 (permalink)
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ositokillao View Post
for example....I found this:

Simple divergence scans can be created by selecting (somewhat arbitrarily) a time duration (5 days for example) and seeing if prices have increased by more than a given percentage while the associated indicator has decreased by a different given percentage. Here's a sample scan that uses that technique:

[type = stock] and [close > 1.0] and [volume > 40000] and [close > 5 days ago close * 1.025] and [[[macd line(12,26,9) - 5 days ago macd line(12,26,9)] / AbsVal(5 days ago macd line(12,26,9))] < -0.08 ]

In this example, the price must have increased by at least 2.5% over the past five days, while the MACD value must have decreased by at least 8%. (Note: The advanced scan interface must be used because a function of a function (i.e., AbsVal of the MACD) is needed.)

While this technique is easy to program into a scan engine, its results are hit-and-miss. Many of the charts returned by this kind of scan are not really experiencing a negative divergence. A visual review of all stocks returned by this kind of scan is a necessity.





Can anybody transcode this to ThinkorSwim?

thanks


here's scan query

 
Code
                            
plot cond volume 40000 and close > (close[5] * 1.025) and (MACD(12269).value  MACD(12269).value[5]) / AbsValue(MACD(12269).value[5]) < -0.08

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  #5 (permalink)
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growex View Post
here's scan query

 
Code
                            
plot cond volume 40000 and close > (close[5] * 1.025) and (MACD(12269).value  MACD(12269).value[5]) / AbsValue(MACD(12269).value[5]) < -0.08

thanks, not getting good results though....

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  #6 (permalink)
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TOS divergence

The only TOS divergence indicator I know of that has divergence is the Knoxville divergence which can be found in the elite download section here if you do a search. I don't know if you will find much use for it though as doesn't draw rays it draws arrows because TOS cant be coded to draw rays as far as I have seen.

Quantismo

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growex View Post
here's scan query

 
Code
                            
plot cond volume 40000 and close > (close[5] * 1.025) and (MACD(12269).value  MACD(12269).value[5]) / AbsValue(MACD(12269).value[5]) < -0.08



growex: That scan works exactly as specified - the problem is that the specification requires to compare MACD and price on specific bars which is in itself useless - but your code works great.

Question: Can you create code to identify peaks and troughs and make comparisons with respect to them?

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  #8 (permalink)
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I wanted to resurrect my thread so that may be somebody can help me out with this request...

is it possible to create a scan that indentifies instruments in a downtrend forming a lower high and macd histogram forming a higher high?



of course, also for reverse bullish divergences which would be:

price: higher low
oscillator: lower low

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  #9 (permalink)
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Divergence

This web site is selling the indicators you are looking for, a bit pricy but perhaps someone can look at the description and code it themselves. I have some RSI and MACD divergence code if it can help?

@ patternsmart .com

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