Replies to post #6823 on MDA - Market Direction Analysis (MDA)

[hk2]

Edit - I mean over the last 3 days

COMPX 30 min - H&S forming this afternoon? Neckline currently ~1507

[augieboo]

Custom Indicator Charts -- New Highs/Lows from 1984 on.

Here's the formula for this indicator:

[New Highs - New Lows] / Total Issues Traded

I added a simple 10 day moving average using Excel's built-in moving average thingie. (So don't ask me why the MA continues after the charts end.)

I've broken the total data set up into 1000 trading day blocks and adjusted the price scaling so that the price range takes up as much vertical space as possible, (so we can see the peaks and valleys better). But note that I have used the exact same percentage scale for [NH-NL]/TI across the five charts.

Note also that I am not offering any analysis to go with these charts because I just finished making them and am posting them without having had a chance to take a good look at them myself.

So, everybody take a look and chime in with your analysis/observations PLEASE!