I am trying to find where 2 raster cells values intersect. I have a ground DEM raster and a water elevation raster. I need to find where are values meeting and export the cells. In the graphic below, the red circle is the cell that I want to find and export in ArcGIS 10.5 using raster calculator if possible.
You should be able to use the Conditional tool, either standalone or in Raster Calculator. Set your conditional statement so that wherever Mask=Water will be 1, and everywhere else will be 0. Something like this:
Con(Water=Mask, 1, 0)
This will produce a binary raster marking the waterline. If you need to know the height of the waterline you could then use this waterline raster as a mask against either of the original layers (Extract by Mask).
For further details on using the Conditional tools you can look at this page on conditional evaluation.