If a mechanical application of MACD - by itself or even with the addition of some simple but credible profit-taking/loss-limiting system - did "hold up long term," then I'd have to think there was something very strange about the financial markets. Why would anyone think that the use of a simple set of mathematical formulae producing a plot or plots available to anyone capable of running a basic charting program would, all by itself, guarantee a tradable edge? If that could happen, we would rename the MACD "Money Tree," and EVERYONE would plant it. Or maybe we'd rename our country the United States of MACD, and we'd all go to the Church of MACD, or at least name our kids and dogs "Mac" or maybe "Gerald" or "Gerrie-Mac." At the very least, CNBC would cancel Maria Bartiromo's show, and replace it with "MACD Tonight," possibly hosted by Bert and some Hedge Fund manager who'd MACD'd his or her way to fame and glory. That said, I have no doubt that there are traders who find MACD to be a useful tool. There appear to be traders who successfully incorporate MACD into profitable systems or methods, just as there appear to be a larger number of traders who get nowhere (or worse) with it. The same can be said for virtually every other pattern or indicator (or non-"technical" approach) that's actively traded.