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1、Stocks&CommoditiesV.14:7(285-289):HiddenDivergencebyBarbaraStar,Ph.D.NEWTECHNIQUESHiddenDivergenceDivergence,whichisatermthattechni-ciansusewhentwoormoreaveragesorindicesfailtoshowconfirmingtrends,isoneofthemainstaysoftechnicalanalysis.Here’sanewwaytouseoscil-l
2、atorsanddivergenceaswellasmeth-odstolocateentrylevelsduringatrend.osttechnicalindicatorsMmirrororconfirmpricemovement.Whenpricemovesup,theindicatormovesup;whenpricemovesdown,theindicatormovesdown.Whenpricespeak,theindicatorpeaks;andwhenpricesbottom,theindi-cato
3、rbottoms.Sometimes,however,adiscrepancyoccursbetweenpriceandindicatormovement.Thatdiscrepancyisknownasnonconfirmationandcanbeseenmostclearlyonoverboughtorover-soldindicatorsaswellasonindicatorsthatmoveaboveorbelowazeroline.Manytradersonlylearntorecognizethetype
4、ofnonconfirmationthatoccursatmarkettopsandbottoms,whichistheclassicdivergence.ButthereareotherformsofnonconfirmationIcallhiddendivergence(HD)that,whenpresent,offeradditionalprofitpotential.byBarbaraStar,Ph.D.MIKECRESSYCopyright(c)TechnicalAnalysisInc.Stocks&Com
5、moditiesV.14:7(285-289):HiddenDivergencebyBarbaraStar,Ph.D.Hiddendivergencesaretheoppositeofclassicdivergences.ClassicdivergencelooksforlowerlowpricesaccompaniedbyABhigherindicatorvaluesatpricebottomsandhigherhighpricesaccompaniedbylowerindicatorvaluesatpriceto
6、ps.Hiddendivergences,ontheotherhand,seekhigherpricelowsaccom-paniedbylowerindicatorvaluesduringupmovesandlower5-15priceoscillatorDCpricehighsaccompaniedbyhigherindicatorvaluesduringPEPdownmoves.MosthiddendivergencessignalcontinuationBBearishdivergencemovesinthe
7、directionoftheprevailingtrend.AHereareexamplesofeachtypeofnonconfirmationusingstockandcommoditycharts.EventhoughmanyindicatorsCDdisplaynonconfirmations,Iwilluseafive-to15-unit(5-15)Bullishdivergencepriceoscillatortoillustratevariousnonconfirmations.Theoscillato
8、rissimplythedifferencebetweenafive-unitexpo-METASTOCK(EQUISINTERNATIONAL)nentialmovingaverage(EMA)oftheclosingpriceanda15-FIGURE1:CLASSICBULLISHANDBEARISHDIVERGENCE.The5-15p
