From TeleChart 2000 Help Topics Index, select: MACD
"MACD consists of three price moving averages, instead of just one or two simple Price Moving Averages".

To get the most benefit from this tutorial,
please use the following setup:
From the TeleChart 2000 Tools dropdown menu,
. select: System Settings
. . select: Chart Templates
. . . under Save Options,
. . . click: "Ask me … to save my changes"
. . . check: Save Zoom and Time Frame to Templates
. . . check: Save Chart Scaling to Templates
. . select: Chart display Options
. . . select Grid Line Style: Solid
. . . check: Use Classic TeleChart Scaling
. . . UNCHECK: White Background

From the TeleChart 2000 Chart Template dropdown menu,
. select: Chart Scaling
. . From the Chart Scaling popup window, click:
. . . Auto Scaling: Arithmetic if 2-days/bar or less

Chart Settings
. Daily Chart
. Zoom = 5 or 6
. In Top Window, click the "A" (in window's lower right
corner)

Edit Chart Template:
** Important: DELETE ALL other Indicators from the windows. **
*** Previous settings can be restored by clicking the
_ _ [ NO ] button when asked to save changes ***

Top Window
. Prices - Open Bar Chart
_ _ _ Draw Color: Off White

Middle Window
. MACD - Short:12 Long:26 Period:9 - Exponential
_ _ _ MACD Color: Red
_ _ _ Avg Color: Grey
_ _ _ Uncheck: Plot MACD as Histogram
_ _ _ Check: Visible

Bottom Window
. NO INDICATORS

= = = = =
Developing MACD screening tools

The following examples use the Chart Template Settings for an
MACD - Short:12 Long:26 Period:9 - Exponential

STEP 1: The MACD or fast line
. the difference between a short Exponential Moving Average (EMA) and a longer Exponential Moving Average (EMA)
((XAVGC12)-(XAVGC26))

Step 2: The Signal or Trigger line
. the difference between the Average of the 12-EMA over the past 9 days and the Average of the 26-EMA over the past 9 days
(XAVG(XAVGC12,9)-XAVG(XAVGC26,9))

STEP 3: The MACD PCFs
* (Today’s) MACD line above zero line
PCF: (XAVGC12-XAVGC26)>0

* (Yesterday’s) MACD line above zero line
PCF: (XAVGC12.1-XAVGC26.1)>0

* (Today’s) MACD line below zero line
PCF: (XAVGC12-XAVGC26)<0

* (Yesterday’s) MACD line below zero line
PCF: (XAVGC12.1-XAVGC26.1)<0

* (Yesterday’s) MACD line below zero or midline
PCF: (XAVGC12.1-XAVGC26.1)<0

* (Today’s) MACD12.26 above Signal line (9-EMA)
PCF: ((XAVGC12-XAVGC26)-(XAVG(XAVGC12,9)-XAVG(XAVGC26,9)))>0

* (Day-Before-Yesterday’s) MACD12.26 above Signal line (9-EMA)
PCF: ((XAVGC12.2-XAVGC26.2)-(XAVG(XAVGC12.2,9)-XAVG(XAVGC26.2,9)))>0

* (Today’s) MACD12.26 below trigger (9-EMA)
PCF: ((XAVGC12-XAVGC26)-(XAVG(XAVGC12,9)-XAVG(XAVGC26,9)))<0

* (Day-Before-Yesterday’s) MACD12.26 below trigger (9-EMA)
PCF: ((XAVGC12.2-XAVGC26.2)-(XAVG(XAVGC12.2,9)-XAVG(XAVGC26.2,9)))<0

MACD as Trend Following Indicator
* Buy Signal?
PCF: ((XAVGC12.1-XAVGC26.1)<(XAVG(XAVGC12.1,9)-XAVG(XAVGC26.1,9)))
AND ((XAVGC12-XAVGC26)>(XAVG(XAVGC12,9)-XAVG(XAVGC26,9)))
In English:
yesterday's MACD line was below its Signal line
AND today's MACD line has crossed above its Signal line

* Sell Signal?
PCF: ((XAVGC12.1-XAVGC26.1)>(XAVG(XAVGC12.1,9)-XAVG(XAVGC26.1,9)))
AND((XAVGC12-XAVGC26)<(XAVG(XAVGC12,9)-XAVG(XAVGC26,9)))
In English:
yesterday's MACD line was above its Signal line
AND today's MACD line has crossed below its Signal line

* Buy Signal?
PCF: (XAVGC12-XAVGC26)<0
AND(XAVG(XAVGC12,9)-XAVG(XAVGC26,9))<0
AND((XAVGC12.1-XAVGC26.1)<(XAVG(XAVGC12.1,9)-XAVG(XAVGC26.1,9)))
AND((XAVGC12-XAVGC26)>(XAVG(XAVGC12,9)-XAVG(XAVGC26,9)))
In English:
today’s MACD line is oversold (below the zero line)
AND today's Signal line is oversold (below the zero line)
AND yesterday's MACD line was below its Signal line
AND today's MACD line has crossed above its Signal line

* Sell Signal?
PCF: (XAVGC12-XAVGC26)>0
AND(XAVG(XAVGC12,9)-XAVG(XAVGC26,9))>0
AND((XAVGC12.1-XAVGC26.1)>(XAVG(XAVGC12.1,9)-XAVG(XAVGC26.1,9)))
AND((XAVGC12-XAVGC26)<(XAVG(XAVGC12,9)-XAVG(XAVGC26,9)))
In English:
today’s MACD line is overbought (above the zero line)
AND today's Signal line is overbought (above the zero line)
AND yesterday's MACD line was above its Signal line
AND today's MACD line has crossed below its Signal line

Suggestion:
Adjust the Middle Window
. MACD - Short:12 Long:26 Period:9 - Exponential
_ _ _ MACD Color: Red
_ _ _ Avg Color: Grey
_ _ _ Uncheck: Plot MACD as Histogram
_ _ _ Check: Visible
. Stochastics - Any settings
_ _ _ SK Draw Color: Black
_ _ _ SD Draw Color: Black
_ _ _ Uncheck: Visible
As an approximation, MACD and Signal lines below the Stochastics lower horizontal line are EXTREMELY oversold; MACD and Signal lines above the Stochastics upper horizontal line are EXTREMELY overbought.

MACD Histogram
Edit Chart Template:
Bottom Window
. MACD - Short:12 Long:26 Period:9 - Exponential
_ _ _ MACD Color: Red
_ _ _ Avg Color: Grey
_ _ _ Check: Plot MACD as Histogram
_ _ _ ** Note: In this Histogram, “Period:9” is zero or mid-line
_ _ _ Check: Visible
. Custom Indicator Settings
_ _ _ Draw Color: Blue
_ _ _ Draw Style: Normal
_ _ _ Check: Visible
_ _ _ Check: Center Zero Line
_ _ _ Smoothing Average: 1
_ _ _ Select: Exponential
Indicator Formula
(XAVGC12-XAVGC26)-(XAVG(XAVGC12,9)-XAVG(XAVGC26,9))

** Note: The Custom MACD Indicator line touches the outermost points on the MACD Histogram. **

After you’ve assured yourself that the Custom Indicator is outlining the MACD histogram, either Uncheck: Visible or Delete the Custom Indicator.

http://www.equis.com/Education/TAAZ/?page=66
http://www.clearstation.com/education/trending.shtml
http://search.atomz.com/search/?sp-q=macd&sp-a=00010a6e-sp00000000
http://www.investopedia.com/terms/m/macd.asp