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Open ARMS Index - Open-10 TRIN

by The trader, 2851 days ago
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The Open ARMS Index, also called Open-10 TRIN or Open Trading Index, is a smoothed version of the Arms Index.

This market breadth indicator uses the advancing/declining issues and the advancing/declining volume to measure the strength of the market.

The Open-10 TRIN is created by the composite plug-in and its formula consists of dividing the smoothed variation of the advance decline ratio by the smoothed variation of the advance decline volume. The smoothed version of the A/D ratio is simply the division of the 10-bar simple moving average of the number of advancing issues by the 10-bar SMA of the number of declining issues.

The interpretation Open ARMS Index is the same as the interpretation of the TRIN or Arms Index. The market is considered bullish when the technical analysis indicator value closes above 0.9 and it is considered bearish when the indicator value drops below 0.9.

This market indicator requires that you download historical data for the advance decline issues and volume first. The data is for stocks listed on NYSE, AMEX and NASDAQ and it can be retrieved using the following downloaders: Advance-Decline-Unchanged issues for NYSE, AMEX and NASDAQ and Advancing-Declining-Unchanged volume for NYSE, AMEX and NASDAQ.

To create the Arms Index, use the composite I have created: Arms Index - TRIN.


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Type: Composite Index

Object ID: 1099


Country:
United States

Market: Stock Market

Style:
Technical Analysis

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