Market Thrust


Function Name: market_thrust

Tags: None

Category: Market Breadth

The Market Thrust indicator is used to identify overbought / oversold markets based on advancing and declining issues and volume. The Market Thrust indicator weighs the number of advancing and declining issues by its respective volume and subtracts these results:

Advancing Issues * Advancing Volume - Declining Issues * Declining Volume

This indicator also calculates an average of the Market Thrust. This average differs from the Market Thrust calculation in that the average is less sensitive to short, quick reversals. Therefore, the average Market Thrust produces a "smoother" calculation compared to the daily Market Thrust calculation.

When the average Market Thrust is greater than zero the market is considered to be in an overbought market. When the average Market Thrust is less than zero the market is considered to be in an oversold market. Therefore this indicator also plots a zero line on the chart.












Default Value: 4  |  Minimum: 1  |  Maximum: 99999


Type: Numeric



Default Value: 0  |  Minimum: 0  |  Maximum: 100


Type: Numeric