Abbreviation: Arms Short-Term Index: ExpAvg
Category: Market Advance / Decline
Input Parameters:
| Name | Range | Default |
| Advancing Issues | ||
| Declining Issues | ||
| Volume of Advancing Issues | ||
| Volume of Declining Issues | ||
| ExpAvg Periods | Int >=1 | 5 |
Calculation:
ExpAvg(X, ExpAvg Periods)
where
X = Arms Short-Term Trading Index(Advancing Issues, Declining Issues, Volume Advancing Issues, Volume Declining Issues)
Arms Short-Term Trading Index represents Arms Short-Term Trading Index (TRIN)
ExpAvg represents Exponential Moving Average
Discussion:
This indicator attempts to smooth the Arms Short-Term Trading Index indicator by calculating its moving average. Since it uses an exponential moving average (which gives more importance to the most recent periods than to less recent periods), the smoothing is influenced most by recent periods.