No. of Recommendations: 9
AI advice:
Free sources:
• StockCharts ($NYHGH, $NYLOW)
• WSJ market breadth pages
• Barchart
• TradingView
• MarketInOut
• Nasdaq official stats
Simpler alternative:
Use NYSE New Highs/New Lows.
It works similarly.
Many professional systems use:
$NYHL or $HILO
CountOfHighs and CountOfLows (as simple counts of “new high today” / “new low today”)
The backtester counts stocks making 52-wk highs/lows. If you have the market breadth series directly (New Highs, New Lows), you can use them without per-stock counting.
To mimic your weighted 9-day ratio with Excel:
K = Weighted highs (9-day weights 9..1)
L = Weighted lows (9-day weights 9..1)
In K10:
=9*C10+8*C9+7*C8+6*C7+5*C6+4*C5+3*C4+2*C3+1*C2
In L10:
=9*D10+8*D9+7*D8+6*D7+5*D6+4*D5+3*D4+2*D3+1*D2
NHNLRatio M10:
=IF(L10=0,9999,K10/L10)
NHNL signal N10 (1 if ratio > 1 else 0):
=IF(M10>1,1,0)
