The New Highs/Lows Ratio (NHNLRatio) displays the daily ratio between the number of stocks reaching new 52-week highs and the number of stocks reaching new 52-week lows.
The NHNLRatio is another useful method to visualize the relationship of stocks that are making new highs and new lows. High readings indicate that a large number of stocks are making new highs (compared to the number of stocks making new lows). Readings less than one indicate that the number of stocks making new highs are less than the number of stocks making lows.
Calculation:
NewHighs = The number of stocks reaching new 52-week highs
NewLows = The number of stocks reaching new 52-week lows
Inputs:
Group = XU100
Indicates the portfolio, group or index.
Indicator Type: Market Breadth