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There is ancient history on this in Walter Heiby's book Stock Market Profis Through Dynamic Synthesis, 1965. He has extensive data. One of the early Granville books discusses it too.
Stuart
Steve Walker wrote:
> I came upon the following indicator. The author writes, "This is a good indicator, all the better since it tends to operate as a lead indicator - one that foretells market action action rather than coincides with it."
>
> It is simple to calculate. From the weekly list of the twenty Most Active stocks, add the number of stocks Up for the week; add the number of stocks Down for the week. Determine the net difference. Create a three week moving average of the result.
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> Interpretation is as follows. It is bullish if the moving total makes new highs with gains in the market or if it resists making new lows with a declining market. It is bearish if the total fails to make new highs with a rising market or makes new lows as the market declines.
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> Has any RealTrader ever worked with this indicator? Does anyone have the past history of Most Actives or know where to get it so it can be back tested?
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> Steve
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