The Breadth Thrust (BT) indicator is a market momentum indicator developed by Dr. Martin Zweig. According to Dr. Zweig a Breadth Thrust occurs when, during a 10-day period, the Breadth Thrust indicator rises from below 40 percent to above 61.5 percent.
A "Thrust" indicates that the stock market has rapidly changed from an oversold condition to one of strength, but has not yet become overbought. This is very rare and has happened only a few times. Dr. Zweig also points out that most bull markets begin with a Breadth Thrust.
All parameters are configurable. You can draw BT for NYSE, NASDAQ, AMEX or based on combined data (i.e., AMEX+NYSE+NASD). There is also a "CUSTOM" mode supported, so you can enter your own ADV/DEC symbols.
More info:
Definition: www.investopedia.com...thrust-indicator.asp
A Breadth Thrust Signal: www.mcoscillator.com...eadth_thrust_signal/
A Rare "Zweig" Buy Signal: www.moneyshow.c...om/articles.asp?aid=GURU-3...
Zweig Breadth Thrust: recessionalert.com/z...readth-thrust-redux/
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
A "Thrust" indicates that the stock market has rapidly changed from an oversold condition to one of strength, but has not yet become overbought. This is very rare and has happened only a few times. Dr. Zweig also points out that most bull markets begin with a Breadth Thrust.
All parameters are configurable. You can draw BT for NYSE, NASDAQ, AMEX or based on combined data (i.e., AMEX+NYSE+NASD). There is also a "CUSTOM" mode supported, so you can enter your own ADV/DEC symbols.
More info:
Definition: www.investopedia.com...thrust-indicator.asp
A Breadth Thrust Signal: www.mcoscillator.com...eadth_thrust_signal/
A Rare "Zweig" Buy Signal: www.moneyshow.c...om/articles.asp?aid=GURU-3...
Zweig Breadth Thrust: recessionalert.com/z...readth-thrust-redux/
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
// // @author LazyBear // // List of my public indicators: http://bit.ly/1LQaPK8 // List of my app-store indicators: http://blog.tradingview.com/?p=970 // study(title="Zweig Market Breadth Thrust Indicator [LazyBear]", shorttitle="ZMBTI_LB") t=input(defval=2, maxval=2, minval=1, title="MA Type (1=>SMA, 2=>EMA)") lma=input(defval=10, minval=1, title="MA Length") mkt = input (defval=1, minval=0, maxval=4, title="Market (0=>AMEX/NASD/NYSE Combined, 1=NYSE, 2=NASDAQ, 3=AMEX, 4=CUSTOM)") aic=input(defval="ADVS", title="CUSTOM: Advancing Stocks Symbol", type=symbol) dic=input(defval="DECS", title="CUSTOM: Declining Stocks Symbol", type=symbol) me=input(false, title="Color OB/OS") ma(s,l) => t==1?sma(s,l):ema(s,l) res = "D" advn="ADVN", decn="DECN" // NYSE advnq="ADVQ", decnq="DECQ" // NASDAQ advna="ADVA", decna="DECA" // AMEX advc="(ADVN+ADVQ+ADVA)/3.0", decc="(DECN+DECQ+DECA)/3.0" adv= security(mkt==0? advc:mkt == 1? advn:mkt == 2? advnq:mkt == 3? advna:aic, res, close) dec= security(mkt==0? decc:mkt == 1? decn:mkt == 2? decnq:mkt == 3? decna:dic, res, close) zmbti = ma(adv/(adv+dec), lma) osl=plot(0.4, color=gray, title="OS"), obl=plot(0.615, color=gray, title="OB") osd=plot(me?(zmbti<0.4?zmbti:0.4):na, style=circles, linewidth=0, title="DummyOS") obd=plot(me?(zmbti>0.615?zmbti:0.615):na, style=circles, linewidth=0, title="DummyOB") fill(osl,obl,black, title="RegionFill") fill(osl, osd, green, transp=60, title="OSFill"), fill(obl, obd, red, transp=60, title="OBFill") plot(zmbti, color=blue, linewidth=2, title="BreadthThrust")