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<span>Formula</span> </div> </a> <ul id="toc-Formula-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Mathematical_interpretation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Mathematical_interpretation"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Mathematical interpretation</span> </div> </a> <button aria-controls="toc-Mathematical_interpretation-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Mathematical interpretation subsection</span> </button> <ul id="toc-Mathematical_interpretation-sublist" class="vector-toc-list"> <li id="toc-Classification" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Classification"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Classification</span> </div> </a> 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Available in 19 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-19" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">19 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D9%85%D8%A4%D8%B4%D8%B1_%D9%85%D8%A7%D9%83%D8%AF" title="مؤشر ماكد – Arabic" lang="ar" hreflang="ar" data-title="مؤشر ماكد" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-bh mw-list-item"><a href="https://bh.wikipedia.org/wiki/%E0%A4%8F%E0%A4%AE%E0%A4%8F%E0%A4%B8%E0%A5%80%E0%A4%A1%E0%A5%80" title="एमएसीडी – Bhojpuri" lang="bh" hreflang="bh" data-title="एमएसीडी" data-language-autonym="भोजपुरी" data-language-local-name="Bhojpuri" class="interlanguage-link-target"><span>भोजपुरी</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/MACD" title="MACD – Czech" lang="cs" hreflang="cs" data-title="MACD" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/MACD" title="MACD – German" lang="de" hreflang="de" data-title="MACD" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/MACD" title="MACD – Spanish" lang="es" hreflang="es" data-title="MACD" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D9%85%DB%8C%D8%A7%D9%86%DA%AF%DB%8C%D9%86_%D9%85%D8%AA%D8%AD%D8%B1%DA%A9_%D9%87%D9%85%DA%AF%D8%B1%D8%A7_%D9%88%D8%A7%DA%AF%D8%B1%D8%A7" title="میانگین متحرک همگرا واگرا – Persian" lang="fa" hreflang="fa" data-title="میانگین متحرک همگرا واگرا" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/MACD" title="MACD – French" lang="fr" hreflang="fr" data-title="MACD" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/MACD" title="MACD – Korean" lang="ko" hreflang="ko" data-title="MACD" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/MACD" title="MACD – Indonesian" lang="id" hreflang="id" data-title="MACD" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/MACD" title="MACD – Italian" lang="it" hreflang="it" data-title="MACD" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/MACD" title="MACD – Hebrew" lang="he" hreflang="he" data-title="MACD" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/MACD" title="MACD – Hungarian" lang="hu" hreflang="hu" data-title="MACD" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Moving_average_convergence/divergence" title="Moving average convergence/divergence – Dutch" lang="nl" hreflang="nl" data-title="Moving average convergence/divergence" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/MACD" title="MACD – Japanese" lang="ja" hreflang="ja" data-title="MACD" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/MACD" title="MACD – Polish" lang="pl" hreflang="pl" data-title="MACD" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/MACD" title="MACD – Portuguese" lang="pt" hreflang="pt" data-title="MACD" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%98%D0%BD%D0%B4%D0%B8%D0%BA%D0%B0%D1%82%D0%BE%D1%80_MACD" title="Индикатор MACD – Russian" lang="ru" hreflang="ru" data-title="Индикатор MACD" 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srcset="//upload.wikimedia.org/wikipedia/commons/f/f9/MACDpicwiki.gif 1.5x" data-file-width="520" data-file-height="350" /></a><figcaption>Example of historical stock price data (top half) with the typical presentation of a MACD(12,26,9) indicator (bottom half). The blue line is the MACD series proper, the difference between the 12-day and 26-day EMAs of the price. The red line is the average or signal series, a 9-day EMA of the MACD series. The bar graph shows the divergence series, the difference of those two lines.</figcaption></figure> <p><b>MACD</b>, short for <b>moving average convergence/divergence</b>, is a <a href="/wiki/Technical_indicator" title="Technical indicator">trading indicator</a> used in <a href="/wiki/Technical_analysis" title="Technical analysis">technical analysis</a> of <a href="/wiki/Securities" class="mw-redirect" title="Securities">securities</a> prices, created by Gerald Appel in the late 1970s.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> It is designed to reveal changes in the strength, direction, <a href="/wiki/Momentum_(finance)" title="Momentum (finance)">momentum</a>, and duration of a trend in a stock's price. </p><p>The MACD indicator<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> (or "oscillator") is a collection of three <a href="/wiki/Time_series" title="Time series">time series</a> calculated from historical price data, most often the <a href="/wiki/Share_price" title="Share price">closing price</a>. These three series are: the MACD series proper, the "signal" or "average" series, and the "divergence" series which is the difference between the two. The MACD series is the difference between a "fast" (short period) <a href="/wiki/Moving_average#Exponential_moving_average" title="Moving average">exponential moving average (EMA)</a>, and a "slow" (longer period) EMA of the price series. The average series is an EMA of the MACD series itself. </p><p>The MACD indicator thus depends on three time parameters, namely the time constants of the three EMAs. The notation "MACD(<i>a</i>,<i>b</i>,<i>c</i>)" usually denotes the indicator where the MACD series is the difference of EMAs with characteristic times <i>a</i> and <i>b</i>, and the average series is an EMA of the MACD series with characteristic time <i>c</i>. These parameters are usually measured in days. The most commonly used values are 12, 26, and 9 days, that is, MACD(12,26,9). As true with most of the technical indicators, MACD also finds its period settings from the old days when technical analysis used to be mainly based on the daily charts. The reason was the lack of the modern trading platforms which show the changing prices every moment. As the working week used to be 6-days, the period settings of (12, 26, 9) represent 2 weeks, 1 month and one and a half week. Now when the trading weeks have only 5 days, possibilities of changing the period settings cannot be overruled. However, it is always better to stick to the period settings which are used by the majority of traders as the buying and selling decisions based on the standard settings further push the prices in that direction. </p><p>Although the MACD and average series are discrete values in nature, but they are customarily displayed as continuous lines in a plot whose horizontal axis is time, whereas the divergence is shown as a <a href="/wiki/Bar_chart" title="Bar chart">bar chart</a> (often called a <a href="/wiki/Histogram" title="Histogram">histogram</a>). </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Macd_indicator.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b9/Macd_indicator.jpg/250px-Macd_indicator.jpg" decoding="async" width="220" height="117" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b9/Macd_indicator.jpg/330px-Macd_indicator.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b9/Macd_indicator.jpg/500px-Macd_indicator.jpg 2x" data-file-width="1156" data-file-height="617" /></a><figcaption>MACD indicator showing vertical lines (histogram)</figcaption></figure> <p>A fast EMA responds more quickly than a slow EMA to recent changes in a stock's price. By comparing EMAs of different periods, the MACD series can indicate changes in the trend of a stock. It is claimed that the divergence series can reveal subtle shifts in the stock's trend. </p><p>Since the MACD is based on moving averages, it is a <a href="/wiki/Economic_indicator#Lagging_indicators" title="Economic indicator">lagging indicator</a>. As a future metric of price trends, the MACD is less useful for stocks that are not trending (trading in a range) or are trading with unpredictable price action. Hence the trends will already be completed or almost done by the time MACD shows the trend. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Terminology">Terminology</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=1" title="Edit section: Terminology"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Over the years, elements of the MACD have become known by multiple and often over-loaded terms. The common definitions of particularly overloaded terms are: </p><p><b>Divergence</b>: </p> <ol><li>As the D in MACD, "divergence" refers to the two underlying moving averages drifting apart, while "convergence" refers to the two underlying moving averages coming towards each other.</li> <li>Gerald Appel referred to a "divergence" as the situation where the MACD line does not conform to the price movement, e.g. a price low is not accompanied by a low of the MACD.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup></li> <li>Thomas Asprey dubbed the difference between the MACD and its signal line the "divergence" series.</li></ol> <p>In practice, definition number 2 above is often preferred. </p><p><b>Histogram</b>:<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <ol><li>Gerald Appel referred to bar graph plots of the basic MACD time series as "histogram". In Appel's Histogram the height of the bar corresponds to the MACD value for a particular point in time.</li> <li>The difference between the MACD and its Signal line is often plotted as a bar chart and called a "histogram".</li></ol> <p>In practice, definition number 2 above is often preferred. </p> <div class="mw-heading mw-heading2"><h2 id="Formula">Formula</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=2" title="Edit section: Formula"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The formula for the MACD line is based on two exponential moving averages of the close prices, usually with the periods of 12 and 26:<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p><p><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle MACD~line=EMA_{12}-EMA_{26}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>M</mi> <mi>A</mi> <mi>C</mi> <mi>D</mi> <mtext> </mtext> <mi>l</mi> <mi>i</mi> <mi>n</mi> <mi>e</mi> <mo>=</mo> <mi>E</mi> <mi>M</mi> <msub> <mi>A</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>12</mn> </mrow> </msub> <mo>−</mo> <mi>E</mi> <mi>M</mi> <msub> <mi>A</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>26</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle MACD~line=EMA_{12}-EMA_{26}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/c4aa35449bee95748ac7bc3068c3fa5da7c32348" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:34.044ex; height:2.509ex;" alt="{\displaystyle MACD~line=EMA_{12}-EMA_{26}}" /></span> </p><p>The signal line is then built as the exponential moving average of the MACD line: </p><p><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle Signal~line=EMA_{9}(MACD~line)}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>S</mi> <mi>i</mi> <mi>g</mi> <mi>n</mi> <mi>a</mi> <mi>l</mi> <mtext> </mtext> <mi>l</mi> <mi>i</mi> <mi>n</mi> <mi>e</mi> <mo>=</mo> <mi>E</mi> <mi>M</mi> <msub> <mi>A</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>9</mn> </mrow> </msub> <mo stretchy="false">(</mo> <mi>M</mi> <mi>A</mi> <mi>C</mi> <mi>D</mi> <mtext> </mtext> <mi>l</mi> <mi>i</mi> <mi>n</mi> <mi>e</mi> <mo stretchy="false">)</mo> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle Signal~line=EMA_{9}(MACD~line)}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/fe4fdceea1fcdf8ae4f6e4de3e234540316e1ea8" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.838ex; width:35.644ex; height:2.843ex;" alt="{\displaystyle Signal~line=EMA_{9}(MACD~line)}" /></span> </p> <div class="mw-heading mw-heading2"><h2 id="Mathematical_interpretation">Mathematical interpretation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=3" title="Edit section: Mathematical interpretation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In <a href="/wiki/Signal_processing" title="Signal processing">signal processing</a> terms, the MACD series is a <a href="/wiki/Low-pass_filter" title="Low-pass filter">filtered</a> measure of the derivative of the input (price) series with respect to time. (The derivative is called "velocity" in technical stock analysis.) MACD estimates the derivative as if it were calculated and then filtered by the two low-pass filters in tandem, multiplied by a "gain" equal to the difference in their time constants. It also can be seen to approximate the derivative as if it were calculated and then filtered by a single low pass exponential filter (EMA) with time constant equal to the sum of time constants of the two filters, multiplied by the same gain.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> So, for the standard MACD filter time constants of 12 and 26 days, the MACD derivative estimate is filtered approximately by the equivalent of a low-pass EMA filter of 38 days. The time derivative estimate (per day) is the MACD value divided by 14. </p><p>The average series is also a derivative estimate, with an additional low-pass filter in tandem for further smoothing (and additional lag). The difference between the MACD series and the average series (the divergence series) represents a measure of the second derivative of price with respect to time ("acceleration" in technical stock analysis). This estimate has the additional lag of the signal filter and an additional gain factor equal to the signal filter constant. </p> <div class="mw-heading mw-heading3"><h3 id="Classification">Classification</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=4" title="Edit section: Classification"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The MACD can be classified as an absolute price oscillator (APO), because it deals with the actual prices of moving averages rather than percentage changes. A percentage price oscillator (PPO), on the other hand, computes the difference between two moving averages of price divided by the longer moving average value. </p><p>While an APO will show greater levels for higher priced securities and smaller levels for lower priced securities, a PPO calculates changes relative to price. Subsequently, a PPO is preferred when: comparing oscillator values between different securities, especially those with substantially different prices; or comparing oscillator values for the same security at significantly different times, especially a security whose value has changed greatly. </p><p>Another member of the price oscillator family is the <a href="/wiki/Detrended_price_oscillator" title="Detrended price oscillator">detrended price oscillator (DPO)</a>, which ignores long term trends while emphasizing short term patterns. </p> <div class="mw-heading mw-heading2"><h2 id="Trading_interpretation">Trading interpretation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=5" title="Edit section: Trading interpretation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Exponential moving averages highlight recent changes in a stock's price. By comparing EMAs of different lengths, the MACD series gauges changes in the trend of a stock. The difference between the MACD series and its average is claimed to reveal subtle shifts in the strength and direction of a stock's trend. It may be necessary to correlate the signals with the MACD to indicators like RSI power. </p><p>Some traders attribute special significance to the MACD line crossing the signal line, or the MACD line crossing the zero axis. Significance is also attributed to disagreements between the MACD line or the difference line and the stock price (specifically, higher highs or lower lows on the price series that are not matched in the indicator series). </p> <div class="mw-heading mw-heading3"><h3 id="Signal-line_crossover">Signal-line crossover</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=6" title="Edit section: Signal-line crossover"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A "signal-line crossover" occurs when the MACD and average lines cross; that is, when the divergence (the bar graph) changes sign. The standard interpretation of such an event is a recommendation to buy if the MACD line crosses up through the average line (a "bullish" crossover), or to sell if it crosses down through the average line (a "bearish" crossover).<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> These events are taken as indications that the trend in the stock is about to accelerate in the direction of the crossover. </p> <div class="mw-heading mw-heading3"><h3 id="Zero_crossover">Zero crossover</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=7" title="Edit section: Zero crossover"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A "zero crossover" event occurs when the MACD series changes sign, that is, the MACD line crosses the horizontal zero axis. This happens when there is no difference between the fast and slow EMAs of the price series. A change from positive to negative MACD is interpreted as "bearish", and from negative to positive as "bullish". Zero crossovers provide evidence of a change in the direction of a trend but less confirmation of its momentum than a signal line crossover. </p> <div class="mw-heading mw-heading3"><h3 id="Divergence">Divergence</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=8" title="Edit section: Divergence"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A "positive divergence" or "bullish divergence" occurs when the price makes a new low but the MACD does not confirm with a new low of its own. A "negative divergence" or "bearish divergence" occurs when the price makes a new high but the MACD does not confirm with a new high of its own.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> A divergence with respect to price may occur on the MACD line and/or the MACD Histogram.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Timing">Timing</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=9" title="Edit section: Timing"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The MACD is only as useful as the context in which it is applied. An analyst might apply the MACD to a weekly scale before looking at a daily scale, in order to avoid making short term trades against the direction of the intermediate trend.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Analysts will also vary the parameters of the MACD to track trends of varying duration. One popular short-term set-up, for example, is the (5,35,5). </p> <div class="mw-heading mw-heading3"><h3 id="False_signals">False signals</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=10" title="Edit section: False signals"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Like any forecasting algorithm, the MACD can generate false signals. A false positive, for example, would be a bullish crossover followed by a sudden decline in a stock. A false negative would be a situation where there is bearish crossover, yet the stock accelerated suddenly upwards. </p><p>A prudent strategy may be to apply a filter to signal line crossovers to ensure that they have held up. An example of a price filter would be to buy if the MACD line breaks above the signal line and then remains above it for three days. As with any filtering strategy, this reduces the probability of false signals but increases the frequency of missed profit. </p><p>Analysts use a variety of approaches to filter out false signals and confirm true ones. </p><p>A MACD crossover of the signal line indicates that the direction of the acceleration is changing. The MACD line crossing zero suggests that the average velocity is changing direction. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=11" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Stochastic_oscillator" title="Stochastic oscillator">Stochastic Oscillator</a></li> <li><a href="/wiki/Relative_strength_index" title="Relative strength index">Relative Strength Index (RSI)</a></li> <li><a href="/wiki/Ultimate_oscillator" title="Ultimate oscillator">Ultimate Oscillator</a></li> <li><a href="/wiki/Williams_%25R" title="Williams %R">Williams %R</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=MACD&action=edit&section=12" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFAppel2005" class="citation book cs1">Appel, Gerald (2005). <i>Technical Analysis Power Tools for Active Investors</i>. Financial Times Prentice Hall. p. 166. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-13-147902-4" title="Special:BookSources/0-13-147902-4"><bdi>0-13-147902-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Technical+Analysis+Power+Tools+for+Active+Investors&rft.pages=166&rft.pub=Financial+Times+Prentice+Hall&rft.date=2005&rft.isbn=0-13-147902-4&rft.aulast=Appel&rft.aufirst=Gerald&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFLawler" class="citation web cs1">Lawler, Jasper. <a rel="nofollow" class="external text" href="https://www.flowbank.com/en/research/what-is-macd-a-macd-trading-strategy-example">"What is MACD? A MACD trading strategy example"</a>. <i>www.flowbank.com</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2021-02-03</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.flowbank.com&rft.atitle=What+is+MACD%3F+A+MACD+trading+strategy+example&rft.aulast=Lawler&rft.aufirst=Jasper&rft_id=https%3A%2F%2Fwww.flowbank.com%2Fen%2Fresearch%2Fwhat-is-macd-a-macd-trading-strategy-example&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFAppel2005" class="citation book cs1">Appel, Gerald (2005). <i>Technical Analysis Power Tools for Active Investors</i>. Financial Times Prentice Hall. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-13-147902-4" title="Special:BookSources/0-13-147902-4"><bdi>0-13-147902-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Technical+Analysis+Power+Tools+for+Active+Investors&rft.pub=Financial+Times+Prentice+Hall&rft.date=2005&rft.isbn=0-13-147902-4&rft.aulast=Appel&rft.aufirst=Gerald&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFPatterson2014" class="citation book cs1">Patterson, Jackie Ann (2014). <i>Truth About MACD: What Worked, What Didn't Work, and How to Avoid Mistakes Even Experts Make</i>. Own Mountain Trading Company. pp. <span class="nowrap">19–</span>21. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1492749844" title="Special:BookSources/978-1492749844"><bdi>978-1492749844</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Truth+About+MACD%3A+What+Worked%2C+What+Didn%27t+Work%2C+and+How+to+Avoid+Mistakes+Even+Experts+Make&rft.pages=%3Cspan+class%3D%22nowrap%22%3E19-%3C%2Fspan%3E21&rft.pub=Own+Mountain+Trading+Company&rft.date=2014&rft.isbn=978-1492749844&rft.aulast=Patterson&rft.aufirst=Jackie+Ann&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFPat_Tong_Chio2022" class="citation arxiv cs1">Pat Tong Chio (2022). "A comparative study of the MACD-base trading strategies: Evidence from the US stock market". <a href="/wiki/ArXiv_(identifier)" class="mw-redirect" title="ArXiv (identifier)">arXiv</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://arxiv.org/abs/2206.12282">2206.12282</a></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=preprint&rft.jtitle=arXiv&rft.atitle=A+comparative+study+of+the+MACD-base+trading+strategies%3A+Evidence+from+the+US+stock+market&rft.date=2022&rft_id=info%3Aarxiv%2F2206.12282&rft.au=Pat+Tong+Chio&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://gregstanleyandassociates.com/whitepapers/FaultDiagnosis/Filtering/MACD-approach/macd-approach.htm">The MACD Approach to Derivative (Rate of Change) Estimation</a></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.investopedia.com/terms/m/macd.asp">"Moving Average Convergence Divergence"</a>. <i>Investopedia</i>. Investopedia LLC<span class="reference-accessdate">. Retrieved <span class="nowrap">29 June</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Investopedia&rft.atitle=Moving+Average+Convergence+Divergence&rft_id=http%3A%2F%2Fwww.investopedia.com%2Fterms%2Fm%2Fmacd.asp&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.investorsunderground.com/technical-indicators/macd-moving-average-convergence-divergence/">"Using the MACD"</a>. <i>Investors Underground</i><span class="reference-accessdate">. Retrieved <span class="nowrap">29 June</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Investors+Underground&rft.atitle=Using+the+MACD&rft_id=https%3A%2F%2Fwww.investorsunderground.com%2Ftechnical-indicators%2Fmacd-moving-average-convergence-divergence%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFPatterson2014" class="citation book cs1">Patterson, Jackie Ann (2014). <i>Truth About MACD: What Worked, What Didn't Work, and How to Avoid Mistakes Even Experts Make</i>. Own Mountain Trading Company. pp. <span class="nowrap">45–</span>99. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1492749844" title="Special:BookSources/978-1492749844"><bdi>978-1492749844</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Truth+About+MACD%3A+What+Worked%2C+What+Didn%27t+Work%2C+and+How+to+Avoid+Mistakes+Even+Experts+Make&rft.pages=%3Cspan+class%3D%22nowrap%22%3E45-%3C%2Fspan%3E99&rft.pub=Own+Mountain+Trading+Company&rft.date=2014&rft.isbn=978-1492749844&rft.aulast=Patterson&rft.aufirst=Jackie+Ann&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222" /><cite id="CITEREFMurphy1999" class="citation book cs1">Murphy, John (1999). <i>Technical Analysis of the Financial Markets</i>. <a href="/wiki/Prentice_Hall_Press" class="mw-redirect" title="Prentice Hall Press">Prentice Hall Press</a>. pp. <span class="nowrap">252–</span>255. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-7352-0066-1" title="Special:BookSources/0-7352-0066-1"><bdi>0-7352-0066-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Technical+Analysis+of+the+Financial+Markets&rft.pages=%3Cspan+class%3D%22nowrap%22%3E252-%3C%2Fspan%3E255&rft.pub=Prentice+Hall+Press&rft.date=1999&rft.isbn=0-7352-0066-1&rft.aulast=Murphy&rft.aufirst=John&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMACD" class="Z3988"></span></span> </li> </ol></div></div> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist 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style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Breakout_(technical_analysis)" title="Breakout (technical analysis)">Breakout</a></li> <li><a href="/wiki/Dead_cat_bounce" title="Dead cat bounce">Dead cat bounce</a></li> <li><a href="/wiki/Dow_theory" title="Dow theory">Dow theory</a></li> <li><a href="/wiki/Elliott_wave_principle" title="Elliott wave principle">Elliott wave principle</a></li> <li><a href="/wiki/Market_trend" title="Market trend">Market trend</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Charts</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Candlestick_chart" title="Candlestick chart">Candlestick</a></li> <li><a href="/wiki/Renko_chart" title="Renko chart">Renko</a></li> <li><a href="/wiki/Kagi_chart" title="Kagi chart">Kagi</a></li> <li><a href="/wiki/Line_chart" title="Line chart">Line</a></li> <li><a href="/wiki/Open-high-low-close_chart" title="Open-high-low-close chart">Open-high-low-close</a></li> <li><a href="/wiki/Point_and_figure_chart" title="Point and figure chart">Point and figure</a></li> <li><a href="/wiki/Line_break_chart" title="Line break chart">Line break</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Patterns</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Chart_pattern" title="Chart pattern">Chart</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Broadening_top" title="Broadening top">Broadening top</a></li> <li><a href="/wiki/Cup_and_handle" title="Cup and handle">Cup and handle</a></li> <li><a href="/wiki/Double_top_and_double_bottom" title="Double top and double bottom">Double top and double bottom</a></li> <li><a href="/wiki/Flag_and_pennant_patterns" title="Flag and pennant patterns">Flag and pennant</a></li> <li><a href="/wiki/Gap_(chart_pattern)" title="Gap (chart pattern)">Gap</a></li> <li><a href="/wiki/Head_and_shoulders_(chart_pattern)" title="Head and shoulders (chart pattern)">Head and shoulders</a></li> <li><a href="/wiki/Island_reversal" title="Island reversal">Island reversal</a></li> <li><a href="/wiki/Price_channels" title="Price channels">Price channels</a></li> <li><a href="/wiki/Triangle_(chart_pattern)" title="Triangle (chart pattern)">Triangle</a></li> <li><a href="/wiki/Triple_top_and_triple_bottom" title="Triple top and triple bottom">Triple top and triple bottom</a></li> <li><a href="/wiki/Wedge_pattern" title="Wedge pattern">Wedge pattern</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Candlestick_pattern" title="Candlestick pattern">Candlestick</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Candlestick_pattern#Simple_patterns" title="Candlestick pattern">Simple</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Doji" title="Doji">Doji</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Candlestick_pattern#Complex_patterns" title="Candlestick pattern">Complex</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Hikkake_pattern" title="Hikkake pattern">Hikkake pattern</a></li> <li><a href="/wiki/Morning_star_(candlestick_pattern)" title="Morning star (candlestick pattern)">Morning star</a></li> <li><a href="/wiki/Three_black_crows" title="Three black crows">Three black crows</a></li> <li><a href="/wiki/Three_white_soldiers" title="Three white soldiers">Three white soldiers</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Point_and_figure_chart" title="Point and figure chart">Point and figure</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bull_trap" title="Bull trap">Bull trap</a></li> <li><a href="/wiki/Bear_market" class="mw-redirect" title="Bear market">Bear trap</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Technical_indicator" title="Technical indicator">Indicators</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Support_and_resistance" title="Support and resistance">Support &<br />resistance</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Fibonacci_retracement" title="Fibonacci retracement">Fibonacci retracement</a></li> <li><a href="/wiki/Pivot_point_(technical_analysis)" title="Pivot point (technical analysis)">Pivot point</a> (PP)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Market_trend" title="Market trend">Trend</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Average_directional_movement_index" title="Average directional movement index">Average directional index</a> (A.D.X.)</li> <li><a href="/wiki/Commodity_channel_index" title="Commodity channel index">Commodity channel index</a> (CCI)</li> <li><a href="/wiki/Detrended_price_oscillator" title="Detrended price oscillator">Detrended price oscillator</a> (DPO)</li> <li><a href="/wiki/KST_oscillator" title="KST oscillator">Know sure thing oscillator</a> (KST)</li> <li><a href="/wiki/Ichimoku_Kink%C5%8D_Hy%C5%8D" title="Ichimoku Kinkō Hyō">Ichimoku Kinkō Hyō</a></li> <li><a class="mw-selflink selflink">Moving average convergence/divergence</a> (MACD)</li> <li><a href="/wiki/Mass_index" title="Mass index">Mass index</a></li> <li><a href="/wiki/Moving_average" title="Moving average">Moving average</a> (MA)</li> <li><a href="/wiki/Parabolic_SAR" title="Parabolic SAR">Parabolic SAR</a> (SAR)</li> <li><a href="/wiki/Smart_money_index" title="Smart money index">Smart money index</a> (SMI)</li> <li><a href="/wiki/Trend_line_(technical_analysis)" title="Trend line (technical analysis)">Trend line</a></li> <li><a href="/wiki/Trix_(technical_analysis)" title="Trix (technical analysis)">Trix</a></li> <li><a href="/wiki/Vortex_indicator" title="Vortex indicator">Vortex indicator</a> (VI)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Momentum_(finance)" title="Momentum (finance)">Momentum</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Money_flow_index" title="Money flow index">Money flow index</a> (MFI)</li> <li><a href="/wiki/Relative_strength_index" title="Relative strength index">Relative strength index</a> (RSI)</li> <li><a href="/wiki/Stochastic_oscillator" title="Stochastic oscillator">Stochastic oscillator</a></li> <li><a href="/wiki/True_strength_index" title="True strength index">True strength index</a> (TSI)</li> <li><a href="/wiki/Ultimate_oscillator" title="Ultimate oscillator">Ultimate oscillator</a></li> <li><a href="/wiki/Williams_%25R" title="Williams %R">Williams %R</a> (%R)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Volume_(finance)" title="Volume (finance)">Volume</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Accumulation/distribution_index" title="Accumulation/distribution index">Accumulation/distribution line</a></li> <li><a href="/wiki/Ease_of_movement" title="Ease of movement">Ease of movement</a> (EMV)</li> <li><a href="/wiki/Force_index" title="Force index">Force index</a> (FI)</li> <li><a href="/wiki/Negative_volume_index" title="Negative volume index">Negative volume index</a> (NVI)</li> <li><a href="/wiki/On-balance_volume" title="On-balance volume">On-balance volume</a> (OBV)</li> <li><a href="/wiki/Put/call_ratio" title="Put/call ratio">Put/call ratio</a> (PCR)</li> <li><a href="/wiki/Volume%E2%80%93price_trend" title="Volume–price trend">Volume–price trend</a> (VPT)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Volatility_(finance)" title="Volatility (finance)">Volatility</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Average_true_range" title="Average true range">Average true range</a> (ATR)</li> <li><a href="/wiki/Bollinger_Bands" title="Bollinger Bands">Bollinger Bands</a> (BB)</li> <li><a href="/wiki/Donchian_channel" title="Donchian channel">Donchian channel</a></li> <li><a href="/wiki/Keltner_channel" title="Keltner channel">Keltner channel</a></li> <li><a href="/wiki/VIX" title="VIX">CBOE Market Volatility Index</a> (VIX)</li> <li><a href="/wiki/Standard_deviation" title="Standard deviation">Standard deviation</a> (σ)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Breadth_of_market" title="Breadth of market">Breadth</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Advance%E2%80%93decline_line" title="Advance–decline line">Advance–decline line</a> (ADL)</li> <li><a href="/wiki/TRIN_(finance)" title="TRIN (finance)">Arms index</a> (TRIN)</li> <li><a href="/wiki/McClellan_oscillator" title="McClellan oscillator">McClellan oscillator</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Coppock_curve" title="Coppock curve">Coppock curve</a></li> <li><a href="/wiki/Ulcer_index" title="Ulcer index">Ulcer index</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Analysts</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/John_Bollinger" title="John Bollinger">John Bollinger</a></li> <li><a href="/wiki/Ned_Davis_(analyst)" title="Ned Davis (analyst)">Ned Davis</a></li> <li><a href="/wiki/Charles_Dow" title="Charles Dow">Charles Dow</a></li> <li><a href="/wiki/Ralph_Nelson_Elliott" title="Ralph Nelson Elliott">Ralph Nelson Elliott</a></li> <li><a href="/wiki/Robert_Farrell_(technical_analyst)" class="mw-redirect" title="Robert Farrell (technical analyst)">Bob Farrell</a></li> <li><a href="/wiki/John_Murphy_(technical_analyst)" title="John Murphy (technical analyst)">John Murphy</a></li> <li><a href="/wiki/Mark_Hulbert" title="Mark Hulbert">Mark Hulbert</a></li></ul> </div></td></tr></tbody></table></div>    </div><noscript><img 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