I have been trying to plot the high/low ratio but cannot seem to get it on a plot. Appreciate any help.

There are built in Worden Market Indicators for this. These are referenced as symbols, just like a stock or index.

T2105 High Low Logic Index

Developed by Norman Fosback, the Index is computed as the lesser of the number of new highs or new lows divided by the total number of issues traded. Daily or weekly NYSE data typically is used in the calculation. The concept behind the indicator is that either a large number of stocks will reach new highs or a large number will establish new lows, but normally not both at the same time. Since the High Low Logic Index is the lesser of the two ratios, high readings are infrequent. When a high indicator reading does occur, it signifies that market internals are inconsistent with many stocks reaching new highs at the same time that many stocks establish new lows. Such a condition is considered bearish for stock prices. Extreme low indicator readings reveal a uniform market. They are considered bullish for stock prices.

T2117 52-week New High / New Low Ratio

This indicator is calculated as follows: new highs for the last 52 weeks divided by new highs + new lows. Another indicator which moves between 0 and 100, this one gets closer to 0 and 100 than some of the others. It’s a good overbought/oversold indicator as well as a good confirmation/non-confirmation indicator when you plot a moving average of it.

T2120 26-week New High/New Low Ratio

New highs for the last 26 weeks divided by new highs + new lows. Research results have revealed a bullish tendency at extreme high readings and a slightly bearish tendency at extreme low readings.

T2121 13week New High/New Low Ratio

New highs for the last 13 weeks divided by new highs + new lows. Research results have revealed a bullish tendency at extreme high readings and a slightly bearish tendency at extreme low readings.

T2122 4week New High/New Low Ratio

New highs for the last 4 weeks divided by new highs + new lows. Research results have revealed a bullish tendency at extreme high readings and a slightly bearish tendency at extreme low readings.

T2123 Cumulative 4week New High/New Low

This is simply the difference between the number of issues reaching new highs (during a 4-week period) and the number of issues reaching new lows (during the same 4-week period). Research results revealed a slight bullish tendency at extreme high readings and a slight bearish tendency at extreme low readings. However, results were not significant enough to warrant reliance on this indicator for market timing purposes.

Thank you

Someone deducted a half-star off my two-star rating.
Probably for the ALL CAPS Topic title.

LOL.

Bruce,

Are any of the T21's similar to Elder's New High New Low index? ...

The index is computed by counting up all of the US stocks (on any of the three major exchanges) that are making new 52-week highs and subtracting all of the US stocks that are making new 52-week lows.

Source: Elder's New Highs - New Lows

If not, is calculating Elder's version possible in TC2000? Just curious.

T2123 would be closest to that in the way it is constructed, but it is not the same. There really isn't a way to construct your own custom market indicators in TC2000.

Cool, thanks Bruce.

Sometimes I get so wrapped up in individual tickers I forget to check on the market's health. I'll check out the T2123. Elder uses several timeframes; that other unnamed provider above uses 52 weeks. I'm more a shorter term guy so 4 weeks shoud be fine.

I can always bookmark that other chart (it's live and free). Does a nice job ... as you'd expect there's a clear divergence developing now - market is due for a drop, though you don't have to be a genius to firgure that out ... just gotta figure out when. :)

When I plot a weekly series of T2105 (Hi Low Logic Indicator) I see several instances of the indicator reaching vlaues well over 1.0. How can this happen given the definition of the indicator is the lower of the number of new hi's or low's, divided by total number of issues traded? Seems it should be a percentage with 1.0 being the theoretical extreme.

The result is actually converted into a percentage.

It's hard to imagine the numbers refelcted in a chart of T2105 represent percentages since the highest value since 8/22/08 is 2.29. The value for 3/9/17 is 0.50. Are you saying this represents 0.5%? I'm comparing this to numbers calculated from the Trading Diary column in Barron's Market Laboratory publisheed 3/12/17. Using the NYSE values in the column (admittedly this represents a subset of all issues trasded but should be in the ballpark as a representation of the market), the value calculated is as follows:

Total issues traded (NYSE): 3,120

New hi's:  217

New Low's:   139

Dividing 139 by 3.120 yields 4.45%

Can you put me straight?

It is a much more restricted list than that. I don't have the exact list available to try to replicate the values exactly, but it is all of the NYSE Common Stocks we carry (so it excludes things like preferred, warrants, ADRs, ETFs, etc.)

If I just create a Combo List using US Common Stocks with the only condition being Exchange with just NYSE checked I get about 2000 symbols (and that definitely isn't going to exactly match what is on the server - there are probably quite a few symbols that still need to be eliminated).

If I use this list (I am not going to be able to either get or exactly replicate the list used on the server), which is definitely wrong and probably too big I get 6 new252 closing lows out of a WatchList of 1998 symbols (not 139 out of a list of 3120).

Also note that T2105 has opens, highs, lows, and closes, so the value changes throughout the trading day and doesn't just get bigger. That means it actually has to close at a new high or new low to get counted (although just making a new high or new low gets it counted in the high value of T2105).