New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.

New High - New Low ($USHL) parameter question

giorgos1982
giorgos1982 ✭
in Data Issues
I often trade SPY and daily monitor the S&P 500 by using (among other tools) its New High - New Low indicator ($USHL) to time possible entries/exits.
So, to chart I enter:
$SPX - ticker symbol
$USHL - parameter under the PRICE indicator

I also look at the $SPX Weekly (5-day rolling period) by changing the parameter to: $USHL5
I would like to use different time periods [such as monthly (20-days), quarterly (65-days), etc].
I searched but could not find that SCs can do those (20- and 65-day periods).
Does anyone know if there is any other site that can chart different day periods for the New High - New Low?

Comments

  • markd
    markd mod
    edited September 2014
    I don't have an answer to your question, but if you are trading SPY and you are open to exploring another indicator, I would suggest closely studying !GT20SPX, which is the per cent of SP500 stocks trading above their 20 day moving average. If you add horizontal lines at 80, 50, and 20, (so it ends up looking like a stochastic indicator), I think you will find there are a lot of timely signals. The 50 provides short term (day or days) reversals, the 80 and 20 longer term signals (weeks, sometimes months). You would want to look at the 20 in up trends, the 80 in down trends. 50s are the most frequent, though. I'm sure you could find many more useful signals as well in the divergences (e.g. $SPX makes a new close but !GT20SPX doesn't). Just a suggestion.

Categories