MACD Divergence setup
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I know there have been plenty of indicators written for divergence in this forum, but having looked through all of them I still can’t quite grasp how to adapt them for my purposes, so I wonder if anyone can help me with this scenario?
I want to capture the bar that contains the previous lowest low in the range (in this case it would be the 9th bar – see screengrab), and then calculate whether or not the MACD at that bar is lower than the MACD at current bar close.
Currently my code is only able to calculate divergence of the MACD based on current bar close versus the bar that is defined by the static lookback range (in this case 15).
Does anyone know how I could query the MACD with a lookback bar that is derived from a previous low?
Thank you in advance…
DEFPARAM CumulateOrders = False back=15 //bars to look back for calculating low longentryflag=0 macconf= MACD[12,26,9](close) > MACD[12,26,9][back] IF low < lowest[back] and close > open and close > ExponentialAverage[5](low) THEN longentryflag=1 if not onmarket and macconf and longentryflag=1 then sl=max(5,AverageTrueRange[14](close)) tp= sl*2 Set target profit tp Set stop loss sl BUY 1 PERPOINT AT MARKET endif ENDIF graph macconfThank you very much Roberto. I think this is close but there is still something I am doing incorrectly. The only way I could get my whole code to work was by querying the MACD with this: CurMACD > PriorMACD…….. but that is only doing a static read of [back], as before.
I’ve attached a screengrab of where there should be an entry at 15:00, based on a rising MACD from the low at 14:05. My “macconf” needs to be true for there to be an entry at 15:00. I’m guessing that maybe I need to use PriorBAR somewhere else in the code? But I’m not sure how. Would you mind helping me here?
Thank you 🙂
DEFPARAM CumulateOrders = False back=15 longentryflag=0 CurLow = lowest[back](low) IF low = CurLow THEN CurMACD = MACD[12,26,9](close) PriorLow = lowest[back](low[back]) FOR i = 0 TO (Back - 1) IF low[i + Back] = PriorLow THEN PriorMACD = MACD[12,26,9](close)[i + back] PriorBAR = BarIndex[i + back] Break ENDIF NEXT ENDIF macconf= CurMACD > PriorMACD IF close < PriorLow and close > ExponentialAverage[5](low) THEN longentryflag=1 if not onmarket and macconf and longentryflag=1 then sl=max(5,AverageTrueRange[14](close)) tp= sl*1 Set target profit tp Set stop loss sl BUY 1 PERPOINT AT MARKET endif ENDIF graph macconf
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Topic Details
| Forum: | ProOrder: Automated Strategies & Backtesting |
| Language: | English |
| Started: | 06/28/2021 |
| Status: | Active |
| Attachments: | 2 files |
