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For the help on detecting divergences please check MACD commentary formula
http://www.amibroker.com/library/detail.php?id=21
...
Best regards,
Tomasz Janeczko
amibroker.com
Dear Tomasz,
I read the interesting commentary in MACD built-in indicator.
Perhaps we have a different approach on divergence.
I consider two troughs in MACD graph and watch the slope of the trendline as in the recent ^NDX points A and B.
Your commentary gives divergence recognition at point C [June 7, 2002].
As I see in the code you use, at point C a trough(Low,2,1) is detected and then you calculate MACD value for the specific
date and compare it to the previous MACD value.
I think it is more expressive to wait for MACD to make his own trough. It comes later, but I am more sure that, except the price,
MACD has also change direction.
Best Regards
Dimitris Tsokakis
PS In general, I follow
http://stockcharts.com/education/Resources/Glossary/divergence.html
http://stockcharts.com/education/What/IndicatorAnalysis/indic_MACD4.html
http://www.equis.com/free/taaz/intindicators.html#divergences
for the divergence description. You seem to follow some other description.
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<DIV><FONT size=2>Hello,<BR><BR>For the help on detecting divergences please
check MACD commentary formula <BR><A
href="http://www.amibroker.com/library/detail.php?id=21";>http://www.amibroker.com/library/detail.php?id=21</A></FONT></DIV>
<DIV><FONT size=2>...</FONT></DIV>
<DIV><FONT size=2>Best regards,<BR>Tomasz
Janeczko<BR>amibroker.com<BR><BR><BR>Dear Tomasz,</FONT></DIV>
<DIV><FONT size=2>I read the interesting commentary in MACD built-in
indicator.</FONT></DIV>
<DIV><FONT size=2>Perhaps we have a different approach on
divergence.</FONT></DIV>
<DIV><FONT size=2>I consider two troughs in MACD graph and watch the slope of
the trendline as in the recent ^NDX points A and B.</FONT></DIV>
<DIV><FONT size=2>Your commentary gives divergence recognition at point C[June
7, 2002].</FONT></DIV>
<DIV><FONT size=2>As I see in the code you use, at point C a trough(Low,2,1) is
detected and then you calculate MACD value for the specific</FONT></DIV>
<DIV><FONT size=2>date and compare it to the previous MACD value.</FONT></DIV>
<DIV><FONT size=2>I think it is more expressive to wait for MACD tomake
his own trough. It comes later, but I am more sure that, except the price,
</FONT></DIV>
<DIV><FONT size=2>MACD has also change direction.</FONT></DIV>
<DIV><FONT size=2>Best Regards</FONT></DIV>
<DIV><FONT size=2>Dimitris Tsokakis</FONT></DIV>
<DIV><FONT size=2>PS In general, I follow</FONT></DIV>
<DIV><FONT size=2><A
href="http://stockcharts.com/education/Resources/Glossary/divergence.html";>http://stockcharts.com/education/Resources/Glossary/divergence.html</A></FONT></DIV>
<DIV><FONT size=2><A
href="http://stockcharts.com/education/What/IndicatorAnalysis/indic_MACD4.html";>http://stockcharts.com/education/What/IndicatorAnalysis/indic_MACD4.html</A></FONT></DIV>
<DIV><FONT size=2><A
href="http://www.equis.com/free/taaz/intindicators.html#divergences";>http://www.equis.com/free/taaz/intindicators.html#divergences</A></FONT></DIV>
<DIV><FONT size=2>for the divergence description. You seem to follow someother
description.</FONT></DIV></BODY></HTML>
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