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Strategies & Market Trends : Metastock 6.0 for Window

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To: Greg Butcher who wrote (1550)	2/3/1998 3:44:00 AM
From: Richard Estes	Read Replies (3) of 4056

DIVERGENCE from MSWIN help. No, I don't do divergences. I don't find them useful at all. SYNTAX divergence( DATA ARRAY 1, DATA ARRAY 2, % MINIMUM CHANGE ) FUNCTION Plots a +1 if DATA ARRAY 1 diverges from DATA ARRAY 2 (i.e., DATA ARRAY 1 is increasing and DATA ARRAY 2 is decreasing). Plots a -1 if DATA ARRAY 1 converges from DATA ARRAY 2 (i.e., DATA ARRAY 1 is decreasing and DATA ARRAY 2 is increasing). A zero is plotted if they are moving in the same direction. Movements in DATA ARRAY 1 less than % MINIMUM CHANGE are ignored. The Divergence function is based on the Zig Zag formula. First, a % MINIMUM CHANGE Zig Zag is calculated for DATA ARRAY 1. Next, a Zig Zag is calculated for DATA ARRAY 2 using the % MINIMUM CHANGE required to match the number of Zig Zag segments in DATA ARRAY 1 over the data range loaded. The two Zig Zags are then compared for divergence and convergence. EXAMPLE The formula "divergence( close, rsi(21), 3 )" looks for divergences between the close and a 21-period RSI. Movements in the close less than 3% are ignored.

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