––––History & Credit The Whaley Breadth Trust is a powerful signal that has a great success rate. It was invented by Wayne Whaley in 2009. Since 1970 to 2009, the signal has occured only 12 times!
–––––What it does The indicator uses 3 conditions. Condition 1: The Advancing and Declining NYSE stocks Condition 2: The Up and Down volume Condition 3:The absolute price increase in the SP500 It calculates different ratios and determine bullish or bearish setting based on this.
When only conditions 1 and 2 are present, we call this a Light Thrust. When all 3 conditions have occured then we call this Full Thrust.
–––––How to use it Consider very bullish signal when you see this.
The light thrust occured on 12JAN23 on the SPX. The signal occured in the following years: 1974, 1982, 1987, 2002, 2008
ملاحظات الأخبار
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Updated minor bug Added the functionality to adjust the length of the lookback
Hi @TintinTrading . Can this be applied to bitcoin or another cryptos? Thanks for your work
TintinTrading
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@Orph5781, Well only to the extend that bullish stock market is aligned with bullish crypto makret as investors are RISK ON. But it is not a technical tool that works on volume and price data from the chart it is uploaded on
asymetric
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Hi TintinTrading, thank you for adding this indicator, would you consider adding a component that also includes minor thrusts and minor capitulations, in Whaley's paper his thrust >=70 had a win ratio of 49 winners against 4 losers, with an 18.63% average 252 day return, and his capitulation <25 had a win ratio of 19 winners to 6 losers, with an 15.59% average return, would be great to be able to see those on a chart too
TintinTrading
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@asymetric, hey buddy! I would love to add minor thrust and capitulations but you havve to tell me more about the conditions - drop me a DM with what you have read and I will make sure to add it to the indicator.