Gerald Appel's Percentage of New Highs

This is the original Gerald Appel's Percentage of new High Indicator.

10 day moving avg. of new highs divided by the total of highs plus lows. This ratio gives a good job at identifying both when a rally is weakening (when indicator breaks below from above 70%) as well as good spots to identifying spots to buy bottoms. (When Indicator moves back up through 30% from below)