Hello Paul Ho, even i don't trade US stocks , and i searched for this indicator for AB , but didn't succeed ,so with the following criteria . we have to do on owr own ,
Conditions for the Omen That the daily number of NYSE new 52 Week Highs AND the daily number of new 52 Week Lows must both be greater than 2.2 percent of total NYSE issues traded that Day. That the smaller of these numbers is greater than OR equal to 69 (68.772 is 2.2% of 3126). This is NOT a rule but more like a checksum. This condition is a function of the 2.2% of the total issues. That the NYSE 10 Week moving average is rising. That the McClellan Oscillator is negative on that same Day. That new 52 Week Highs cannot be more than twice the new 52 Week Lows (however it is fine for new 52 Week Lows to be more than double new 52 Week Highs). This condition is absolutely mandatory http://en.wikipedia.org/wiki/Hindenburg_Omen (found from net) formula for finding new 52 Week Highs AND new 52 Week Lows //----------------------------------------------------------- AddToComposite(IIf(C > HHV(Ref(C, -1), 250), 1,0), "~NewHi","X"); //Find New Highs over the past 52 weeks. AddToComposite(IIf(C < LLV(Ref(C, -1), 250), 1,0), "~NewLo","X"); //Same for lows next. NewHigh = Foreign("~NewHi","X"); NewLow = Foreign("~NewLo","X"); DIFF_H_L = NewHigh-NewLow; Ratio = IIf(NewLow>NewHigh,(NewLow*-1)/NewHigh,NewHigh/NewLow); Plot(NewHigh,"NewHigh",colorGreen,styleLine); Plot(NewLow,"NewLow",colorRed,styleLine); Plot(Diff_H_L,"Diff_H_L",colorPlum,styleDashed); Plot(Ratio,"NewHigh-NewLow Ratio",colorDarkBlue,styleThick); //Plot( DIFF_H_L, "Adv/Dec Histogram", IIf(NewHigh-NewLow > 0,colorBrightGreen,colorRed ), styleNoTitle | ParamStyle("Histogram style", styleHistogram | styleNoLabel, maskHistogram )); //Plot(Ratio,"NewHigh-NewLow Ratio",colorDarkBlue,styleHistogram); //----------------------------------------------------------- waiting for senior members to finalize this concept :) Thank you --- In amibroker@yahoogroups.com, "Paul Ho" <pault...@...> wrote: > > Has anybody tested the validity of the Hindenburg Omen. I googled and found > a number of sites talking about that > one of them is > http://www.contrahour.com/contrahour/2005/09/if_youre_bearis_5.html. Its > about US stocks. I dont trade US stocks but am wondering if it is as good as > the authors/promoters claim. I'll be testing it in my own market. >
