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MACD Difference System
---FFCorps@xxxxxxx wrote:
Hi Folks:

I'm new at this and wondering if anyone has ever done an exploration or built an indicator using weekly MACD-Histogram data. I'd like to identify stocks with MACD-Histogram lines which are rising toward zero for buys.
Conversely I'd like to identify stocks with MACD-Histogram lines which are falling toward zero as possible sells.

Has anyone had any experience working with this? Thanks for your time.

Mark Titus

---Chip Anderson wrote:
>
Hi Mark,

Here's how I created the MACD histogram. First I had to define a new custom indicator (you only need to do this once):


MACD Difference

MACD() - Mov(MACD(), 9, EXPONENTIAL)

 

OK, now we can create that MACD Histogram on any price chart with the following steps:
  1. (Optional) Drop the MACD indicator at the top of your price chart to create a new inner window with the MACD lines in it.
  2. Drop the "MACD Difference" indicator in an inner window (I use the same window that the MACD lines are in).
  3. Pull up the "Properties" of the MACD Difference line and use the "Color/Style" tab to change it's "Style" from a single line into a histogram (I also make mine blue).
You can create a simple MACD Difference system test using the following steps:

1. Pull up the System Tester and press "New..."
2. Name the test something like

 


MACD Difference

Enter Long:

Fml("MACD Difference") 0


Close Long:

Fml("MACD Difference") <= 0

 

Good luck!

Chip

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