OPEN-SOURCE SCRIPT
Zweig Market Breadth Thrust Indicator [LazyBear]
The Breadth Thrust (BT) indicator is a market momentum indicator developed by Dr. Martin Zweig. According to Dr. Zweig a Breadth Thrust occurs when, during a 10-day period, the Breadth Thrust indicator rises from below 40 percent to above 61.5 percent.
A "Thrust" indicates that the stock market has rapidly changed from an oversold condition to one of strength, but has not yet become overbought. This is very rare and has happened only a few times. Dr. Zweig also points out that most bull markets begin with a Breadth Thrust.
All parameters are configurable. You can draw BT for NYSE, NASDAQ, AMEX or based on combined data (i.e., AMEX+NYSE+NASD). There is also a "CUSTOM" mode supported, so you can enter your own ADV/DEC symbols.
More info:
Definition: investopedia.com/terms/b/breadth-thrust-indicator.asp
A Breadth Thrust Signal: mcoscillator.com/learning_center/weekly_chart/a_breadth_thrust_signal/
A Rare "Zweig" Buy Signal: moneyshow.com/articles.asp?aid=GURU-39533
Zweig Breadth Thrust: recessionalert.com/zweig-breadth-thrust-redux/
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
A "Thrust" indicates that the stock market has rapidly changed from an oversold condition to one of strength, but has not yet become overbought. This is very rare and has happened only a few times. Dr. Zweig also points out that most bull markets begin with a Breadth Thrust.
All parameters are configurable. You can draw BT for NYSE, NASDAQ, AMEX or based on combined data (i.e., AMEX+NYSE+NASD). There is also a "CUSTOM" mode supported, so you can enter your own ADV/DEC symbols.
More info:
Definition: investopedia.com/terms/b/breadth-thrust-indicator.asp
A Breadth Thrust Signal: mcoscillator.com/learning_center/weekly_chart/a_breadth_thrust_signal/
A Rare "Zweig" Buy Signal: moneyshow.com/articles.asp?aid=GURU-39533
Zweig Breadth Thrust: recessionalert.com/zweig-breadth-thrust-redux/
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
Skrip open-source
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List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
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