OPEN-SOURCE SCRIPT
Breadth Thrust Indicator by Zweig (NYSE Data with Volume)
The Breadth Thrust Indicator, based on Zweig's methodology, is used to gauge the strength of market breadth and potential bullish signals. This indicator evaluates the breadth of the market by analyzing the ratio of advancing to declining stocks and their associated volumes.
Usage:
Smoothing Length: Adjusts the smoothing period for the combined ratio of breadth and volume.
Low Threshold: Defines the threshold below which the smoothed combined ratio should fall to consider a bullish signal.
High Threshold: Sets the upper threshold that the smoothed combined ratio must exceed to confirm a bullish Breadth Thrust signal.
Signal Interpretation:
Bullish Signal: A background color change to green indicates that the Breadth Thrust condition has been met. This occurs when the smoothed combined ratio crosses above the high threshold after being below the low threshold. This signal suggests strong market breadth and potential bullish momentum.
By using this indicator, traders can identify periods of strong market participation and potential upward price movement, helping them make informed trading decisions.
Usage:
Smoothing Length: Adjusts the smoothing period for the combined ratio of breadth and volume.
Low Threshold: Defines the threshold below which the smoothed combined ratio should fall to consider a bullish signal.
High Threshold: Sets the upper threshold that the smoothed combined ratio must exceed to confirm a bullish Breadth Thrust signal.
Signal Interpretation:
Bullish Signal: A background color change to green indicates that the Breadth Thrust condition has been met. This occurs when the smoothed combined ratio crosses above the high threshold after being below the low threshold. This signal suggests strong market breadth and potential bullish momentum.
By using this indicator, traders can identify periods of strong market participation and potential upward price movement, helping them make informed trading decisions.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Where others speculate, we systematize.
edgetools.org
edgetools.org
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As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Where others speculate, we systematize.
edgetools.org
edgetools.org
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.