This document discusses combining the Moving Average Convergence Divergence (MACD) indicator with candlestick patterns to generate trading signals. It provides examples of how MACD signals can confirm candlestick patterns on daily and weekly stock charts across different industries. It also discusses using MACD divergences, histograms, and real candlestick bodies and shadows to identify strength, weakness, and optimal entry/exit points for trades.

1. MASTERING
MACD WITH
CANDLESTICKS
Learn How to Combine
the Power of MACD
with Candlestick Signals.
Prepared & Presented By
Rohit Musale, CFA®
Prepared & Presented By
Rohit Musale, CFA®

2. MACD
2
Fast Line
Slow Line

3. MACD
3
Bulls are more Powerful
Bears are more Powerful

4. MACD
4
Buy Signal
Sell Signal

5. MACD AS A CONFIRMATION TOOL
5

6. Bharti Airtel – Weekly – MACD - Bearish Engulfing rohitmusale.com

7. Bharti Airtel – Weekly – MACD - Bearish Engulfing rohitmusale.com

8. Tata Motors – Daily – MACD - Shooting Star rohitmusale.com

9. Tata Motors – Daily – MACD - Shooting Star rohitmusale.com

10. TCS – Daily – MACD - Bullish Engulfing rohitmusale.com

11. TCS – Daily – MACD - Bullish Engulfing rohitmusale.com

12. HDFC Bank – Daily – MACD - Rising Window rohitmusale.com

13. HDFC Bank – Daily – MACD - Rising Window rohitmusale.com

14. Eicher Motors – Daily – MACD - Dark Cloud Cover rohitmusale.com

15. Eicher Motors – Daily – MACD - Dark Cloud Cover rohitmusale.com

16. MACD TO IDENTIFY
STRENGTH & WEAKNESS
16

17. Ultratech – Daily – MACD – Signal of Weakness rohitmusale.com
240
139
7915
8048

18. Ultratech – Daily – MACD – Signal of Weakness rohitmusale.com
240
139
7915
8048

19. Infosys – Weekly – MACD – Consistency Vs Inconsistency rohitmusale.com
-7.66
5.62
371
375

20. Infosys – Weekly – MACD – Consistency Vs Inconsistency rohitmusale.com
-7.66
5.62
371
375

21. Dabur - Daily – MACD – Signal of Strength rohitmusale.com
-12.13 -6.18 482
488

22. Dabur - Daily – MACD – Signal of Strength rohitmusale.com
-12.13 -6.18 482
488

23. Marico – Weekly – MACD – Weakness at Shooting Star rohitmusale.com
14.44
7.79
388
396

24. Marico – Weekly – MACD – Weakness at Shooting Star rohitmusale.com
14.44
7.79
388
396

25. Colgate – Daily – MACD – Consistent with Price rohitmusale.com
18.87
-8.71

26. Colgate – Daily – MACD – Consistent with Price rohitmusale.com
18.87
-8.71

27. MACD - HISTOGRAM
27

28. Castrol – Weekly – MACD Histogram – Bearish Signal rohitmusale.com

29. Castrol – Weekly – MACD Histogram – Bearish Signal rohitmusale.com

30. HCL Tech – Weekly – MACD Histogram – Shooting Star rohitmusale.com

31. HCL Tech – Weekly – MACD Histogram – Shooting Star rohitmusale.com

32. Reliance – Weekly – MACD Histogram – Inverted Hammer rohitmusale.com

33. Reliance – Weekly – MACD Histogram – Inverted Hammer rohitmusale.com

34. Coal India – Weekly – MACD Histogram – Falling Window rohitmusale.com

35. Coal India – Weekly – MACD Histogram – Falling Window rohitmusale.com

36. Wipro – Weekly – MACD Histogram – Bearish Engulfing rohitmusale.com

37. Wipro – Weekly – MACD Histogram – Bearish Engulfing rohitmusale.com

38. MACD – BULLISH DIVERGENCES
38

39. Sun Pharma – Daily – MACD Histogram – Bullish Divergence – Bullish Engulfing rohitmusale.com

40. Sun Pharma – Daily – MACD Histogram – Bullish Divergence – Bullish Engulfing rohitmusale.com

41. Kotak Bank – Daily – MACD Histogram – No Bullish Divergence – Example 1 rohitmusale.com

42. Kotak Bank – Daily – MACD Histogram – No Bullish Divergence – Example 1 rohitmusale.com

43. NTPC – Daily – MACD Histogram – No Bullish Divergence – Example 2 rohitmusale.com

44. NTPC – Daily – MACD Histogram – No Bullish Divergence – Example 2 rohitmusale.com

45. UPL – Daily – MACD Histogram – Bullish Divergence - Long Lower Shadows rohitmusale.com

46. UPL – Daily – MACD Histogram – Bullish Divergence - Long Lower Shadows rohitmusale.com

47. Hindustan Unilever - Daily – MACD Histogram – Bullish Divergence – No Trade rohitmusale.com

48. Hindustan Unilever - Daily – MACD Histogram – Bullish Divergence – No Trade rohitmusale.com

49. MACD – BEARISH DIVERGENCES
49

50. Dr Reddy – Daily – MACD Histogram – No Bearish Divergence rohitmusale.com

51. Dr Reddy – Daily – MACD Histogram – No Bearish Divergence rohitmusale.com

52. Axis Bank – Daily – MACD Histogram – Bearish Divergence rohitmusale.com

53. Axis Bank – Daily – MACD Histogram – Bearish Divergence rohitmusale.com

54. ICICI Bank – Daily – MACD Histogram – Bearish Divergence – No Trade rohitmusale.com

55. ICICI Bank – Daily – MACD Histogram – Bearish Divergence – No Trade rohitmusale.com

56. NTPC – Daily – MACD Histogram – Bearish Divergence – Hanging Man rohitmusale.com

57. NTPC – Daily – MACD Histogram – Bearish Divergence – Hanging Man rohitmusale.com

58. Titan - Daily – MACD Histogram – Bearish Divergence – Bearish Engulfing rohitmusale.com

59. Titan - Daily – MACD Histogram – Bearish Divergence – Bearish Engulfing rohitmusale.com

60. Titan - Daily – MACD Histogram – Bearish Divergence – Bearish Engulfing rohitmusale.com

61. MACD & TRADE MANAGEMENT
61

62. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

63. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

64. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

65. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

66. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

67. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

68. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

69. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

70. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

71. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

72. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

73. SBI Cards – Daily – MACD & Trade Management – Riding the Trend rohitmusale.com

74. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

75. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

76. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

77. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

78. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

79. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

80. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

81. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

82. Mindtree – Daily – MACD & Trade Management - Navigating the Windows rohitmusale.com

83. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

84. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

85. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

86. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

87. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

88. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

89. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

90. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

91. Trent – Daily – MACD & Trade Management – Change of Polarity rohitmusale.com

92. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

93. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

94. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

95. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

96. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

97. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

98. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

99. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

100. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

101. IDBI – Daily – MACD & Trade Management – Waiting for the Crossover rohitmusale.com

102. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

103. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

104. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

105. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

106. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

107. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

108. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

109. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

110. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

111. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

112. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

113. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

114. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

115. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

116. PNB – Daily – MACD & Trade Management – False Bullish Sign rohitmusale.com

117. MACD WITH REAL BODIES & SHADOWS
117

118. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

119. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

120. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

121. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

122. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

123. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

124. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

125. Biocon – Daily – MACD – Real Bodies & Shadows – High Wave Candle rohitmusale.com

126. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

127. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

128. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

129. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

130. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

131. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

132. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

133. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

134. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

135. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

136. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

137. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

138. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

139. Voltas – Daily – MACD – Real Bodies & Shadows – Cluster of Spinning Tops rohitmusale.com

140. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

141. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

142. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

143. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

144. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

145. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

146. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

147. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

148. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

149. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com

150. Relaxo – Daily – MACD – Real Bodies & Shadows – The Indecision Candle rohitmusale.com
Support Support
Res Res
Support

151. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

152. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

153. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

154. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

155. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

156. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

157. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

158. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

159. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

160. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

161. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

162. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

163. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

164. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

165. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

166. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

167. NHPC – Daily – MACD – Real Bodies & Shadows – The Precision of Candlesticks rohitmusale.com

168. Britannia – Daily – MACD – Real Bodies & Shadows – The 10 Black Candles rohitmusale.com
1
2 3 4
5
6
7
8
9
10

169. Britannia – Daily – MACD – Real Bodies & Shadows – The 10 Black Candles rohitmusale.com
1
2 3 4
5
6
7
8
9
10

170. Britannia – Daily – MACD – Real Bodies & Shadows – The 10 Black Candles rohitmusale.com
1
2 3 4
5
6
7
8
9
10

171. THANK YOU
Prepared & Presented by - Rohit Musale, CFA®