MACD is a lagging indicator (meaning not good for intraday trading) but you can tweak it to help you a bit. Format is (fast K, slow K, signal).
Standard is (12,26,9). A modified version that can help during intraday is (5,9,2).
A bearish divergence occurs when the market makes a higher high than the previous high, but the MACD indicator fails to make a corresponding high.
A bullish divergence occurs when the market makes a lower low, but the indicator doesn't make a corresponding low.
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