Bretz TRIN-5 indicator is a five period moving average of the TRIN indicator.
A buy signal is usually generated when it reaches a high above 6 then turns down, and a sell signal is generated when it reaches a low below 4 then turns up.
This indicator was developed by William G. Bretz and described in his book “Juncture Recognition in the Stock Market” in 1972. Jerry Favors named it the TRIN-5 in his article in the March,1992 issue of the Technical Analysis of Stocks & Commodities magazine.
Calculation:
ADV = The number of advancing issues
DEC = The number of declining issues
UPV = The total volume of the securities with a higher closing price of the previous closing price
DNV = The total volume of the securities with a lower closing price of the previous closing price
Inputs:
Group = XU100
Indicates the portfolio, group or index.
Indicator Type: Market Breadth