Abbreviation: New Highs-New Lows Spread: ExpAvg
Category: Market New Highs / New Lows
Input Parameters:
| Name | Range | Default |
| New Highs | ||
| New Lows | ||
| ExpAvg Periods | Int >=1 | 5 |
Calculation:
ExpAvg(X, ExpAvg Periods)
where
X = New Highs-New Lows Spread(New Highs, New Lows)
New Highs-New Lows Spread represents New Highs-New Lows Spread
ExpAvg represents Exponential Moving Average
Discussion:
This indicator attempts to smooth the New Highs-New Lows Spread 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.