Swenlin IT Breadth Momentum Oscillator


Function Name: swenlin

Tags: Oscillator

Category: Market Breadth

The intermediate Term Breadth Momentum Oscillator is a barometer of breadth. To calculate the ITBM, add the daily McClellan Oscillator (ration adjusted) to the daily 39-day exponential average, then calculate a 20-day exponential average of the result. It is better if this indicator is above the zero line and rising. Below the zero line and falling is the worst scenario. Rising is better then falling, even if below the zero line. he absolute value indicates how overbought/oversold the market is.

Data components required:

- Advances - Declines

What Does Market Breadth Mean? A technique used in technical analysis that attempts to gauge the direction of the overall market by analyzing the number of companies advancing relative to the number declining. Positive market breadth occurs when more companies are moving higher than are moving lower, and it is used to suggest that the bulls are in control of the momentum. Conversely, a disproportional number of declining securities is used to confirm bearish momentum.

The market, in which a security is traded, has to be selected from the parameter drop-down menu (single klick on the index name, then the drop-down appears); e.g. if the ITBM of "Adidas" should be calculated, one has to select "DAX".


Source: "The Complete Guide to Market Breadth Indicators - How to Analyze and Evaluate Market Direction and Strength"

by G. L. Morris, McGraw-Hill

Author:   Carl Swenlin










Default Value: 19  |  Minimum: 1  |  Maximum: 9999


Type: Numeric



Default Value: 39  |  Minimum: 1  |  Maximum: 9999


Type: Numeric