Help with new breadth indicators

carlson

Anybody know what these do, or can point me to the documentation that explains these:

!5INDRXLE -- Energy (XLE) 5% Index - A-D
!10INDRXLE -- Energy (XLE) 10% Index - A-D

It appears to be some kind of Advance-Decline indicator. But what is the 5% and 10% part about?

thank you!

Kevo

Hi. For those who may not know, these two indexes are DecisionPoint (DP) indicators. DP indexes begin with an exclamation.

I am not certain and I would like to know for sure, but my estimation is that the 5 and 10 mean Top 5 and Top 10. If this is true, then they are a subset of the group. How is the Top 5/10 determined? I don't know, but I would guess Market Capitalization?

Maybe DP is trying to figure out what the XLE "Generals" are doing before making a decision about the entire sector?

Kevo

Looks like I found the answer, and it is way different than the description above.

"In the bottom panel are the two different EMAs of the (invisible) Advance/Decline ratio that are used to calculate the McClellan Oscillator. The red 39-day EMA is called the "5% Index" and the blue 19-day EMA is called the "10% Index." If both the 5% and 10% Indexes are positive, the market is strengthening. If they are both negative, it is weakening."

This was taken from the: DP Chart Gallery.