Rank: Member
Groups: Registered, Registered Users Joined: 2/7/2005(UTC) Posts: 16 Location: BC
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Hi: I collect daily data from Reuters, but I want to develop a scan that will find stocks that have "crossed" the MACD's baseline during the week. Does that make any sense?
Let me put it this way. The MACD signals on a daily chart are too numerous, not to mention many of them go nowhere. A weekly chart is better and confirms many other things, for example, the strength of the"crossover" of the MACD to the upside, other moving average crossovers, the momentum, etc.
If I could draw a picture for the results I am looking for on a weekly chart it might look something like this:
__________________l_____________________________________________________
The "l" represents the first time in usually a long time that the stock has turned up. Previously, on a daily chart, it may have turned up a month ago, but as I said it's usually too soon to be confirmed by other indicators.
Can anyone help?
Thanks!
Shelley
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Rank: Advanced Member
Groups: Registered, Registered Users Joined: 1/19/2005(UTC) Posts: 1,065 Location: Koh Pha-Ngan, Earth
Was thanked: 2 time(s) in 2 post(s)
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Shelley, maybe the weekly MACD for daily charts can help here.
jose '-)
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