Zweig Market Breadth Thrust Indicator+Trigger [LazyBear x rwak]

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.

This version of the Breadth Thrust indicator includes a trigger visualized with red circles, making it easier to spot when the indicator crosses the critical 61.5% level, signaling potential bullish momentum.

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.

Credit: The original Breadth Thrust logic was created by LazyBear, whose public indicators can be found here, and app-store indicators here.

More info:

• Definition of Breadth Thrust
• A Breadth Thrust Signal
• A Rare "Zweig" Buy Signal
• Zweig Breadth Thrust: Redux