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The Cumulative New High/Low Line is a market breadth indicator that uses these 52-Week New Highs and 52-Week New Lows data. Its formula is similar to the Advance Decline Line formula, with the difference that instead of using the number of advancing issues, we use the number of stocks making new high and instead of the declining issues number, we use the number of stocks making new low.
The Cumulative New High/Low is plotted as a line and is interpreted similarly to the Advance/Decline line. The indicator usually moves in the same direction as market indices. However, when the composite indicator and the market move in opposite directions, the market is likely to reverse.
This composite calculates the Cumulative New High/Low Line for the New York Stock Exchange. You can make some changes so it calculates data for the NASDAQ or American Stock Exchange. To do so, select the composite and click on "Update" then click on "Next". In the formula, you just need to select "^52-WEEK-HIGHS-NYSE" and "^52-WEEK-LOWS-NYSE" and replace them with "^52-WEEK-HIGHS-NASDAQ" and "^52-WEEK-HIGHS-NASDAQ". Recalculate the composite item to create the new index. You can do the same if you want to get the Cumulative New High/Low Line for the American Stock Exchange.
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