Abbreviation: Market Thrust: VolWgtAvg Diff
Category: Market Advance / Decline
Input Parameters:
| Name | Range | Default |
| Advancing Issues | ||
| Declining Issues | ||
| Volume of Advancing Issues | ||
| Volume of Declining Issues | ||
| Total Volume | ||
| VolWgtAvg1 Periods | Int >= 1 | 5 |
| VolWgtAvg2 Periods | Int >= 1 | 10 |
Calculation:
VolWgtAvg(X, Total Volume, VolWgtAvg1 Periods) – VolWgtAvg(X, Total Volume, VolWgtAvg2 Periods)
where
X = Market Thrust(Advancing Issues, Declining Issues, Volume Advancing Issues, Volume Declining Issues)
Market Thrust represents Market Thrust
VolWgtAvg represents Volume Weighted Moving Average
Discussion:
This indicator attempts to quantify movements in the Market Thrust indicator by calculating the difference between two moving averages. Since it uses volume weighted moving averages (which give more importance to those periods with higher volume relative to the other periods in the moving average’s time frame), the indicator tends to focus more upon movement between periods of relatively higher volume than between periods of relatively lower volume.