Abbreviation: New Highs-New Lows Spread: ExpAvg Diff
Category: Market New Highs / New Lows
Input Parameters:
| Name | Range | Default |
| New Highs | ||
| New Lows | ||
| ExpAvg1 Periods | Int >=1 | 5 |
| ExpAvg2 Periods | Int >=1 | 10 |
Calculation:
ExpAvg(X, ExpAvg1 Periods) – ExpAvg(X, ExpAvg2 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 quantify movements in the New Highs-New Lows Spread indicator by calculating the difference between two moving averages. Since it uses exponential moving averages (which give more importance to the most recent periods than to less recent periods), the indicator tends to focus more upon movement occurring in the most recent periods.