MACD and Stochastic with 3/8 ema

bspratt22

bspratt22

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Had great success with a setup involving the cross up of 3 over 8 ema along with MACD and Stochastics cross up. On a 5 min chart this usually a great entry for scalp or daytrade; if following a longer timeframe direction like an hour can turn into swing. Like a lot of trend changes price will pop up then make one more dip then pop up for good or at least until that trend ends or the MACD/Stoch have to cycle. Anyhow, its somewhat time consuming waiting/watching for these setups so wondering if there is a study/scan/watchlist that will alert when conditions met. I have included 2 pictures 1 where as described the initial pop dips once more before trend taking off.



 
BenTen

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I don't think all of the conditions you mentioned are met at once or within a few candles. Are you able to find examples where all these conditions lined up with each other?
 
bspratt22

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Ben you are correct the 3/8 ema cross will not line up exactly with the other 2 conditions; just asking for the MACD & Stoch conditions. Looking at most of my charts the cross precedes the MACD & Stoch. If alerted to these 2 conditions via watchlist I could quickly discern whether the 3/8 cross was in play which again is almost an automatic.
 
BenTen

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@bspratt22 Can you share some more chart examples where the MACD and Stoch conditions are aligned with each other?
 
bspratt22

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Aligning is probably not what we are looking for. The MACD has to cross, but like I said earlier many times it will come back and touch or near touch for one more "mini dip" opportunity. The Stoch just has to be trending up. If your stop is wide enough the 2nd dip will not stop you out its just the "best" entry verses a "good" entry. Quantifying this may not be possible. May require too much context and human intervention to confirm. Just thought I would ask. Here are 3 examples:

a touch



2 possible entries after cross



2 more possible entries



Even if I had a watchlist column that alerted me to a MACD cross from this would be helpful.
 
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MerryDay

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I do like me a nice MACD cross!:)

Here is my MACD watchlist code:
1. My lengths are 3-10-16. You could try mine or input yours of 12-26-9
Code:
# ########################################################
# TOS MACDTwoLines
def fastMACD = ExpAverage(close, 3);
def slowMACD = ExpAverage(close, 10);
plot MACDv   = fastMACD - slowMACD;
def MACDAvg  = ExpAverage(MACDv, 16);
AssignBackgroundColor(if MACDv>MACDAvg then color.green else color.red);
# ########################################################
 
bspratt22

bspratt22

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I do like me a nice MACD cross!:)

Here is my MACD watchlist code:
1. My lengths are 3-10-16. You could try mine or input yours of 12-26-9
Code:
# ########################################################
# TOS MACDTwoLines
def fastMACD = ExpAverage(close, 3);
def slowMACD = ExpAverage(close, 10);
plot MACDv   = fastMACD - slowMACD;
def MACDAvg  = ExpAverage(MACDv, 16);
AssignBackgroundColor(if MACDv>MACDAvg then color.green else color.red);
# ########################################################
Thank you! Will try it out!
 
C

crawford5002

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I do like me a nice MACD cross!:)

Here is my MACD watchlist code:
1. My lengths are 3-10-16. You could try mine or input yours of 12-26-9
Code:
# ########################################################
# TOS MACDTwoLines
def fastMACD = ExpAverage(close, 3);
def slowMACD = ExpAverage(close, 10);
plot MACDv   = fastMACD - slowMACD;
def MACDAvg  = ExpAverage(MACDv, 16);
AssignBackgroundColor(if MACDv>MACDAvg then color.green else color.red);
# ########################################################
can you post a pic of this watchlist please
 
BenTen

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@crawford5002 Are you having trouble adding it?
 
BenTen

BenTen

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@crawford5002 Watch the second half of the video below. It will show you how to add a custom watchlist column.

 
BenTen

BenTen

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@crawford5002 Please be specific. Lost at which point?
 
C

crawford5002

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@crawford5002 Please be specific. Lost at which point
Trying to create a watchlist of stocks between $1-$10 that only cross above the slow line in my MACD settings with over 1M Vol
 
BenTen

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@crawford5002 I think you're confused between a scanner and a watchlist column. Can you post a screenshot of your chart where the condition you mentioned is crossing above the MACD's slow line?
 
C

crawford5002

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The bright green line is the fast line crossing above the slow line

 
BenTen

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@crawford5002 I don't think I have that script. Post it here.
 
C

crawford5002

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@crawford5002 I don't think I have that script. Post it here.

Code:
declare lower;

input fastLength = 5;
input slowLength = 20;
input MACDLength = 30;
input averageType = AverageType.EXPONENTIAL;
input showBreakoutSignals = no;

plot Value = MovingAverage(averageType, close, fastLength) - MovingAverage(averageType, close, slowLength);
plot Avg = MovingAverage(averageType, Value, MACDLength);


def higherFast = Value > Value[1];
def lowerFast = Value < Value[1];
def higherSlow = Avg > Avg[1];
def lowerSlow = Avg < Avg[1];

plot ZeroLine = 0;


Avg.SetDefaultColor(GetColor(8));

ZeroLine.SetDefaultColor(Color.GRAY);
Value.SetDefaultColor(GetColor(1));
Value.SetPaintingStrategy(PaintingStrategy.LINE);
Value.AssignValueColor(if HigherFast then Color.GREEN else if LowerFast then Color.RED else Color.CYAN);
Value.SetLineWeight(3);
Avg.SetDefaultColor(GetColor(1));
Avg.SetPaintingStrategy(PaintingStrategy.LINE);
Avg.AssignValueColor(if higherSlow then Color.DARK_GREEN else if lowerSlow then Color.DARK_RED else Color.CYAN);
Avg.SetLineWeight(3);
lower;

input fastLength = 5;
input slowLength = 20;
input MACDLength = 30;
input averageType = AverageType.EXPONENTIAL;
input showBreakoutSignals = no;

plot Value = MovingAverage(averageType, close, fastLength) - MovingAverage(averageType, close, slowLength);
plot Avg = MovingAverage(averageType, Value, MACDLength);


def higherFast = Value > Value[1];
def lowerFast = Value < Value[1];
def higherSlow = Avg > Avg[1];
def lowerSlow = Avg < Avg[1];

plot ZeroLine = 0;


Avg.SetDefaultColor(GetColor(8));
 

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