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Percentage Hughes Breadth Momentum Oscillator

by saratur, 3205 days ago
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The Hughes Breadth Index is also known as the The Hughes Breadth-Momentum Oscillator.
It measures the ratio between the difference of advancing and declining issues in an exchange, to the total number of issues. The theory behind the index is that increases in stock prices are preceded by strengthening internals of the market, and the reverse is true for decreases in stock prices.

The calculation is: H = (A-D)/(A+D+U)
Where

      H = today's 1-day ratio of net advances to total issues trades
      A = number of advancing issues
      D = number of declining issues
      U = number of unchanged issues
(A+D+U) is the total number of issues traded each day. Typically the indicator is calculated on the NYSE data, though similarly it can be calculated on other markets such as Nasdaq.

In this implementation the index is 'normalized' so as to get positive numbers, between 0 and 100 percent.

This index based on daily data is quite erratic, and is typically smoothed by simple or exponential moving average in order to facilitate analysis

This object uses NYSE data provided by the download object Advance-Decline-Unchanged issues for NYSE, AMEX and NASDAQ, which downloads data from www.unicorn.us.com . This data source gather data from various publicly-available sources and report the median values found. For further explanation on why the numbers provided by different sources may differ, see http://unicorn.us.com/advdec/about.php . When developing strategies based on breadth data it is advisable to use a consistent data source for backtest and trading. Unicorn's data for NYSE goes back to March 1965, allowing for long backtests.


The symbol for the Hughes Breadth Index on NYSE expressed in percentages: "_P_HUGHES_BREADTH_NYSE"


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Type: Composite Index

Object ID: 873


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