High-Low Index [LazyBear]

8 thg 5, 2015

-- Fixed ---
Source: pastebin.com/Z0uS17zD

Fixes an issue with "Combined" mode, using wrong symbols.

--- Original ---
The High-Low Index is a breadth indicator based on Record High Percent, which is based on new 52-week highs and new 52-week lows.

Readings below 50 indicate that there were more new lows than new highs. Readings above 50 indicate that there were more new highs than new lows. 0 indicates there were zero new highs (0% new highs). 100 indicates there was at least 1 new high and no new lows (100% new highs). 50 indicates that new highs and new lows were equal (50% new highs).

Readings consistently above 70 usually coincide with a strong uptrend. Readings consistently below 30 usually coincide with a strong downtrend.

More info:
stockcharts.com/school/doku.php?id=chart_school:technical_indicators:high-low_index

List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970

Just noticed Greeny has already published this -> tradingview.com/v/Byka5S5F/. Linking it here.