The Market Thrust indicator is a powerful measure of the stock market's internal strength or weakness. There are four components to this indicator:
1-Advancing Issues on the New York Stock Exchange (NYSE) – ADV 2-Advancing Volume on the NYSE – UVOL 3-Declining Issues on the NYSE – DECL 4-Declining Volume on the NYSE – DVOL
When used for day-trading, the trend of the Market Thrust indicator is what is most important.
Rising Market Thrust Indicator: Considered a bullish sign; can act as a confirmation signal when combined with a rising stock, index ETF, or stock index future's price.
Falling Market Thrust Indicator: Considered a bearish sign; can act as a confirmation signal of a decreasing market price.
The Market Thrust indicator could be used for detecting divergences in trends. Divergences occur when:
- Price is trending higher, but the Market Thrust indicator is not moving higher or is even going down. - Price is trending lower, however, the Market Thrust technical analysis tool is not trending lower, it is either not trending or is trending higher.
given that the Indexes are market cap weighted dont we need to apply some kind of weighted multipliers to make the Advance/Declines more effective compared to just a plain count ?
CodyMaki
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awesome man thank you ill test it out
mirza97246d
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Sir,is it repaint?
BreathingAmplitude
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@mirza97246d, any script that uses security() function will be considered a repainting script