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Record High Percent - 10-day Simple Moving Average of the High-Low Index
Based on the number of stocks making new 52-week highs and the number of stocks making new 52-week lows, the High Low Index is a popular market breadth indicator that shows the number of new highs relative to the sum of new highs and lows.
The High Low Index is also used to calculate another market breadth indicator called Record High Percent. This market indicator is calculated by taking the 10-day or bar simple moving average of the high-low index.
The 52-week high and low numbers are required in order to compute the High Low Index. This data can be created by implementing two composites and then applying them to a list of stocks or it can be downloaded directly from a trading object. The NYSE, AMEX and NASDAQ 52-week high and low data for example downloads this data for three different U.S. exchanges, NYSE, NASDAQ and AMEX.
The current implementation of the Record High Percent and High Low Index is based on the 52-week high and low numbers from stocks listed on the New York Stock Exchange.
As with the High Low Index, there are many other market indicators that are based on the new 52-week highs and new 52-week lows: Percentage of new highs to total market creates a line that reflects the percentage of stocks making new highs to the total number of stocks. New-High/New-Low Spread is the difference between NYSE stocks making new highs and stocks making new lows. Cumulative New High/Low Line is calculated similar to the advance decline line. The difference is that advancing issues is replaced by 52-week new highs and declining issues is replaced by 52-week new lows.
