New High New Low Breadth Module

Optuma Scripting
1

Am i doing correct in calculating new high new low in breadth module as following.

HIGH() > HIGHESTHIGH(BACKTYPE=Weeks, BARS=52)

LOW() < LOWESTLOW(BACKTYPE=Weeks, BARS=52)

Regards,
Deepak

2

Sorry its for stocks hitiing 52 week highs. Is it correct. For new High shall i use all time high option.

3

Hi Deepak,

Those are correct to calculate two separate breadth measures, one calculating new highs and the other new lows. For all-time highs you need to change it to >= (or <=) as it can’t be greater/less than all bars - including the latest so there would be no true results.

HIGH() >= HIGHESTHIGH(RANGE=All Time)
4

Thanks sir.

Whats the difference in new high andnew lows vs 52 week high 52 week lows.

Regards,
Deepak

5

Not exactly sure what you mean, but for the difference between All Time Highs and 52 week highs would be the following in one breadth measure, set to Cumulative Breadth Action:

H1=HIGH() >= HIGHESTHIGH(RANGE=All Time);
H2=HIGH()>HIGHESTHIGH(BACKTYPE=Weeks, BARS=52);
H2-H1

Do the same for the lows and you can subtract one from the other.