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Divergence Between the Close and an Indicator
Rev. 03/18/97 The following formula will calculate the correlation of the Close
and the MACD. It is written using a "long form" MACD so that the time periods used by the MACD may be changed. This indicator shows "divergence" between the close and the indicator:

In the Windows versions of MetaStock the formula is:

Divergence Between the Close and MACD

-(Sum(Cum(1),100)* Sum((Mov(C,12,E)-Mov(C,26,E)),100)/100))
-(Sum(Cum(1),100)* Sum(C,100)/100))/((Sum(Power(Cum(1),2),100))


The interpretation of the indicator output is as follows:
- .08 (80%) and lower is divergence between the Close and the MACD.
- 1 is very strong divergence.
+ 1 is very strong correlation.

The formula was constructed this way so that most other indicators maybe used in place of the MACD.
For example here is the same indicator using the RSI(14):


Divergence Between the Close and RSI

((Sum(Cum(1)*C,100))-(Sum(Cum(1),100)*Sum(C,100)/100)) / ((Sum(Power(Cum(1),2),100))-(Power(Sum(Cum(1),100),2)/100)),12,0)


Source / From: TOP

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