HISTORY AND CREDITS––––––––––––––––––––––––––––––––––––––––––––––––––––––– I got inspired to build this based on some public lectures I have seen of Matt Caruso. Matt says he has taken 10 years to build similar tool. The idea of a 'better' Relative Strength hit home and I cracked open the textbooks to see which technique would serve best. I think I have made a...
Basically the same script than Carusolnsights but without hidding the lines of code... "This indicator displays the net number of stocks on the Nasdaq Composite making 52-week highs or lows. For instance, if there are 60 new 52-week highs and 20 new 52-week lows, the net number will display 40 net new 52 week highs. This indicator is particularty useful in gauging...
HISTORY AND CREDITS ––––––––––––––––––––––––––––––––––––––––––––––––––––––– Stage 2 is part of Mark Minervini's NON-NEGOTIABLE criteria. What does this mean? Well it means that Mark does not enter a trade that is not in Stage 2. Stage analysis is the work of Stan Weinstein who divides stock price movements in 4 stages (Stage1, Stage2, Stage3 and Stage4)....
––––History & Credit There are multiple methodologies that use Net New Highs for the NASDAQ or NYSE as a market direction indicator. Recently, I saw Matt Caruso to also apply such methodology, so I decided to code this indicator. –––––What it does 👉 Plots a Net Change histogram. This shows New Highs - New Lows, if the histogram is above 0 this means there are...