The Market Thrust Signal

[Mars_resident]

Hello everyone, I have been actively reading and improving my trading through this forum. I have been successful in day trading but I am still looking to improve my performance as an investor. I have spent quite some time experimenting with ton of different indicators.

One of the most promising technical indicator, I came across is market breadth indicators. In particular, Breakaway momentum (https://www.walterdeemer.com/bam.htm), Zweig and Whaley ( https://docs.cmtassociation.org/pdfs/dowaward-2010.pdf) and 70 percent thrust (https://quantifiableedges.com/a-3x-70-breadth-thrust-signal/). I have studied how markets behave when these trigger and I am just amazed. Most recently a combination of these triggered on November 6, and we all know what happened next.

I see very little on this forum regarding these thrust signals. There is one thread (https://usethinkscript.com/threads/breadth-thrust-indicator-for-thinkorswim.2131/#post-20076 ). This thread shared the code for these thrust signals but after some research, I discovered it's not correct. For example, when you launch Breakaway momentum code, it gives you way some false positives ( compare it to : https://www.walterdeemer.com/bam.htm)

I was wondering if any of you can help with coding for these thrusts or if you already have one and don't mind sharing it.

 

[XeoNoX]

1) can you post the criteria for what you are looking for?

you also stated:

"his thread shared the code for these thrust signals but after some research, I discovered it's not correct. For example, when you launch Breakaway momentum code, it gives you way some false positives ( compare it to : https://www.walterdeemer.com/bam.htm)"

2) Can you post 2 different screenshots of what you mean by they were different?

 

[Mars_resident]

1) can you post the criteria for what you are looking for?

you also stated:

"his thread shared the code for these thrust signals but after some research, I discovered it's not correct. For example, when you launch Breakaway momentum code, it gives you way some false positives ( compare it to : https://www.walterdeemer.com/bam.htm)"

2) Can you post 2 different screenshots of what you mean by they were different?

Thank you for your reply.

1. I am looking for an indicator that shows on NYSE or SPX when either of these thrust signals are true: Breakaway momentum, Zweig, Whaley, and 70 percent thrust. I have provided details regarding these thrust signals in my original post which details the criteria. whenever you have a combination of these thursts, market tends to run.

2. I can send several screenshots where signal are false but I will send only one as an example. If you use the indicator posted on this thread (https://usethinkscript.com/threads/breadth-thrust-indicator-for-thinkorswim.2131/#post-20076), you will get a signal that breakaway momentum is true on 10/28/2022, however, Walter Deemer has posted all the instances when breakaway momentum has been true over last few decades and 10/28/2022 is not one of the dates. so in this scenario, we got a false signal. I hope it makes sense.

 

[halcyonguy]

Thank you for your reply.

1. I am looking for an indicator that shows on NYSE or SPX when either of these thrust signals are true: Breakaway momentum, Zweig, Whaley, and 70 percent thrust. I have provided details regarding these thrust signals in my original post which details the criteria. whenever you have a combination of these thursts, market tends to run.

2. I can send several screenshots where signal are false but I will send only one as an example. If you use the indicator posted on this thread (https://usethinkscript.com/threads/breadth-thrust-indicator-for-thinkorswim.2131/#post-20076), you will get a signal that breakaway momentum is true on 10/28/2022, however, Walter Deemer has posted all the instances when breakaway momentum has been true over last few decades and 10/28/2022 is not one of the dates. so in this scenario, we got a false signal. I hope it makes sense.

please create an outline, that lists the rules for each theory, and the possible outputs.