Net New Highs/Lows (With visible code)

2 Sep 2022

Basically the same script than Carusolnsights but without hidding the lines of code...
"This indicator displays the net number of stocks on the Nasdaq Composite making 52-week highs or lows. For instance, if there are 60 new 52-week highs and 20 new 52-week lows, the net number will display 40 net new 52 week highs. This indicator is particularty useful in gauging what the breadth is of the Nasdaq.
Three days of net 52-week highs show a healthy market which is conducive to increasing exposure. This condition is highlighted with a green background.
Three days of net 52-week lows show an unhealthy market which is conducive to reducing exposure. This condition is high|lighted with a red background."

3 Sep 2022

Catatan Rilis

- Removed a useless part of the code

4 Nov 2024

Catatan Rilis

Warmest thanks to @jfsrevg for suggesting the idea of tracking 1-Month and 3-Month Net New Highs/Lows!

Updates include:

• Transition from Pine Script v4 to v5
  
• Options to select Net New Highs/Lows over 52 Weeks, 1 Month, and 3 Months
  
• Cleaner, more streamlined code
  
• More descriptive variable names
  

This update will help you better monitor market health, highlighting recent strengths or weaknesses.

4 Nov 2024

Catatan Rilis

Thanks to apdusp who suggested I add the 6 month period.