OPEN-SOURCE SCRIPT
Market Thrust Indicator
The Market Thrust indicator is a powerful measure of the stock market's internal strength or weakness. There are four components to this indicator:
1-Advancing Issues on the New York Stock Exchange (NYSE) – AADV
2-Advancing Volume on the NYSE – UUVOL
3-Declining Issues on the NYSE –
DECL
4-Declining Volume on the NYSE – DDVOL
The formula for Market Thrust is given below:
(AADV x UUVOL)-(DECL x DDVOL)
When used for day-trading, the trend of the Market Thrust indicator is what is most important.
Rising Market Thrust Indicator: Considered a bullish sign; can act as a confirmation signal when combined with a rising stock, index ETF, or stock index future's price.
Falling Market Thrust Indicator: Considered a bearish sign; can act as a confirmation signal of a decreasing market price.
The Market Thrust indicator could be used for detecting divergences in trends. Divergences occur when:
- Price is trending higher, but the Market Thrust indicator is not moving higher or is even going down.
- Price is trending lower, however, the Market Thrust technical analysis tool is not trending lower, it is either not trending or is trending higher.
Add a fully configurable trend line over MTI.
Read more at: commodity.com/technical-analysis/market-thrust/
1-Advancing Issues on the New York Stock Exchange (NYSE) – AADV
2-Advancing Volume on the NYSE – UUVOL
3-Declining Issues on the NYSE –
DECL4-Declining Volume on the NYSE – DDVOL
The formula for Market Thrust is given below:
(AADV x UUVOL)-(
DECL x DDVOL)When used for day-trading, the trend of the Market Thrust indicator is what is most important.
Rising Market Thrust Indicator: Considered a bullish sign; can act as a confirmation signal when combined with a rising stock, index ETF, or stock index future's price.
Falling Market Thrust Indicator: Considered a bearish sign; can act as a confirmation signal of a decreasing market price.
The Market Thrust indicator could be used for detecting divergences in trends. Divergences occur when:
- Price is trending higher, but the Market Thrust indicator is not moving higher or is even going down.
- Price is trending lower, however, the Market Thrust technical analysis tool is not trending lower, it is either not trending or is trending higher.
Add a fully configurable trend line over MTI.
Read more at: commodity.com/technical-analysis/market-thrust/
Script de código abierto
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Script de código abierto
Siguiendo fielmente el espíritu de TradingView, el creador de este script lo ha publicado en código abierto, permitiendo que otros traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la publicación de este código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.