Market Thrust: Difference between revisions
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=== Definition === | === Definition === | ||
The Market Thrust indicator is used to determine overbought and oversold markets based on advancing and declining market issues and volume. Market Thrust measures the rising and falling trends by its volume and then subtracts these results. <br> | |||
'''The Market Thrust formula''': (N of advancing issues * advancing vol) - (N of declining issues * declining vol).<br> | |||
<br> | |||
The Market Thrust indicator also calculates an average of the Market Thrust which is less sensitive to short reversals. | |||
<div style="background-color: #E3FBE5;">'''Note''': Data1, Data2 should have advancing issues and Data3 & Data4 should have declining issues.</div> | |||
=== Default Inputs=== | === Default Inputs=== | ||
'''AdvIssues''', close of data1. | '''AdvIssues''' set a PowerLanguage expression that represents the number of issues trading above their previous day's Close, close of data1 by default. | ||
'''Adv Vol''', close of data2. | '''Adv Vol''' set a PowerLanguage expression that represents the volume of issues trading above their previous day's Close, close of data2 by default. | ||
'''DecIssues''', close of data3. | '''DecIssues'''set a PowerLanguage expression that represents the number of issues trading below their previous day's Close, close of data3 by default. | ||
'''DecVol''', close of data4. | '''DecVol''' set a PowerLanguage expression that represents the volume of issues trading below their previous day's Close, close of data4 by default. | ||
'''SmoothingLength''', 14 by default. | '''SmoothingLength''' set the number of bars to use in the moving average, 14 by default. | ||
[[Category:Pre-built Indicators]] | [[Category:Pre-built Indicators]] | ||
Latest revision as of 13:32, 30 September 2021
Definition
The Market Thrust indicator is used to determine overbought and oversold markets based on advancing and declining market issues and volume. Market Thrust measures the rising and falling trends by its volume and then subtracts these results.
The Market Thrust formula: (N of advancing issues * advancing vol) - (N of declining issues * declining vol).
The Market Thrust indicator also calculates an average of the Market Thrust which is less sensitive to short reversals.
Default Inputs
AdvIssues set a PowerLanguage expression that represents the number of issues trading above their previous day's Close, close of data1 by default.
Adv Vol set a PowerLanguage expression that represents the volume of issues trading above their previous day's Close, close of data2 by default.
DecIssuesset a PowerLanguage expression that represents the number of issues trading below their previous day's Close, close of data3 by default.
DecVol set a PowerLanguage expression that represents the volume of issues trading below their previous day's Close, close of data4 by default.
SmoothingLength set the number of bars to use in the moving average, 14 by default.
