MACD Divergence Indicator for ThinkorSwim

[J007RMC]

I loaded up a watchlist using the macd, and ma cross 5/10/20 then ran a scan for divergence and saved the scan as such. I load up the divergence scan-and look for two lights to agree either green or red. It seems quite effective and matches the macd divergence chart. Note: the divergence both red and green are effective as well

 

[J007RMC]

This is an amazing indicator I had a chance to use it last two days for 5/5, plus 70% and counting.

 

[hexis777]

hi there, please, Where do I find the study called "MACD_Div_Upper" that is used in the video (Jul 26, 2019) to create the custom Watchlists?

 

[BenTen]

@hexis777 It's already in the first post. You can go directly to it here.

 

[ezrollin]

It just shows that blue line at the bottom?
I really want to start watching out for hidden divergences though.

 

[BenTen]

@ezrollin Create a plain new chart and add the indicator again. See if the error is there or is it because of something else.

 

[ezrollin]

Its still there. I think theres just something wrong with my system and I should just reset the whole damn thing

 

[BenTen]

@ezrollin I see the issue now. Go to that specific indicator's setting and then untick "Show Plot" for the Diff option.

 

[mrmac]

@ezrollin I see the issue now. Go to that specific indicator's setting and then untick "Show Plot" for the Diff option.

Hi @BenTen This fixed one of the problems I was seeing, thank you but I still do not seem to get any arrows in any direction generated.
I am mostly looking at lower time frames (1m, 5m, 15m etc) and FX pairs - should I be seeing results at these timeframes?
I've not touched any of the other settings at all. Thank you

 

[BenTen]

@mrmac Are you seeing any signals on the higher timeframe?

 

[mrmac]

@mrmac Are you seeing any signals on the higher timeframe?

@BenTen - should have tried this earlier, I changed the MACD settings to 20, 50, 26 just to see if I could see anything and I now see some pink and green on the 15min charts. I'll need to research more appropriate settings for scalping lower timeframes.

 

[alphabeta]

i too tried the divergence with IWM. It works quite well and i was able to simulate the buy/sell point on paper trade. I've actually entered a buy order at the last 5 minutes as it shows a double bottom. looking for another nice gap up tomorrow.

hi can you please tell me what is meaing of IWM thaank you!

 

[BenTen]

@alphabeta IWM is the ticker symbol for the iShares Russell 2000 Index.

 

[Cookies]

@BenTen , Does this one spot only hidden divergences?

 

[Ahmar824]

@BenTen , Does this one spot only hidden divergences?

actually it does both, however I was hoping that it can draw straight lines rather than arrows

 

[ezrollin]

Just trying to create a scan that finds higher MACD momentum trends.
Very simple but havent spent time looking into it and dont know what I'm doing! lol
Can I get some help?
Thanks!

input fastLength = 12;
input slowLength = 26;
input MACDLength = 9;
input averageType = AverageType.EXPONENTIAL;
plot Value = MovingAverage(averageType, close, fastLength) - MovingAverage(averageType, close, slowLength);
plot Avg = MovingAverage(averageType, Value, MACDLength);
plot Diff = Value - Avg;

def highermomentum = 1;
def lowermomentum = 2;

plot Momentum = if Diff < Diff[5] < Diff[10] < Diff[30] < Diff[50] < Diff[100] then highermomentum else LowerMomentum;

 

[murkr]

@BenTen Are you still using this? I can't get it to plot the lines in the upper study like @KevinSammy was experiencing.

 

[BenTen]

@murkr I'm not. I've concluded that divergences should be spot manually.

 

[Ginu09]

This is brilliant but more for finding support areas. Not sure how it has anything to do with MACD divergence from what I see on my screen

 

[timekeeper]

@murkr I'm not. I've concluded that divergences should be spot manually.

@BenTen hello. Im seeing what I think are false positives on the MACD_divergence_pivots. Does this code read divergence in Value line as well as Histogram.

Im looking for a divergence indicator for day trading. And notice you commented about manual spotting of divergence. Why do you say that?