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Anybody written a scan for this? I've written some scans but not sure I'd even come close to getting it right for this one....
There are three criteria to activate the omen. First, NYSE new highs and new lows must both be more than 2.8% of advances plus declines. Second, the NY Composite is above the level it was 50 days ago. Third, the number of new highs cannot be more than double the number of new lows. The activation period is good for 30 days. Once active, a sell signal is triggered when the McClellan Oscillator moves below zero and negated when the McClellan Oscillator moves back above zero.
Type Hindenburg into the symbol search there and it will show them.
The US market ones are:
"Description for !BINAHOD Digital indicator that is a modified version of the Hindenburg Omen, using $COMPQ and two different kinds of breadth data for the NASDAQ exchange. The intent is to identify sell signals using three criteria. The first criteria is that the McClellan Oscillator value is less than zero. The second criteria is that both the number of new 52-week highs and the number of new 52-week lows comprise at least 2.46% of total issues. The third criteria is that the value of $COMPQ's 50-day simple moving average (SMA) must be higher than its previous 50-day SMA value. The value for the indicator ranges from 0 to 3; one point is added to the value for each of the criteria that are met. If all three criteria are met, then the indicator value is set to +3. The higher the value, the stronger the omen."
I suggest using an Area Chart and Monthly period.
I saved a Hindenburg chart from one of the blog articles on StockCharts that used those settings. I think it was a Greg Morris or Martin Pring post. They both usually post using charts you can click on and save to a chartlist if you want. I have a chartlist called Indicator Charts of Interest, that I save many of the shared market indicator type charts from blog postings to. Arthur Hill also used to be a great source of those types of things.
I don't have a scan for it. I just look at the symbol charts.