Breadth Advance/Decline
Designed by Martin Zweig, the Breadth Advance/Decline, is a measure of the dominance of advancing issues in the market. In theory a market that is dominated by advancing issues will have bullish tendency in the future as compared to one dominated by declining issues. Opinions amongst experts are varied as to what measure the indicator must have to indicate a bearish or bullish market. These range from above 0.55 to 0.67 to indicate a bullish market to below 0.45 to 0.37 to indicate a bearish market.
Breadth Advance/Decline(Parameters)
- High. The cell reference for the range of High prices.
- Low. The cell reference for the range of Low prices.
- Output range. The cell reference for the range of output data.
- Period. Number of values used for calculation.
Breadth Advance/Decline(Syntax)
BreadthAdvanceDecline(OPEN;HIGH;PERIOD;DIRECTION)
Example
=BreadthAdvanceDecline(B3:B12;C3:C12;10;1)
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