Rank: Member
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Joined: 7/22/2006(UTC)
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Location: Malaysia
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Hi,
Just wondering if anyone knows how to build a CADI?
From what I understand it is supposed to be
(Total number of Up Counters) - (Total of Down Counters) = CADI
Unchanged Counters Unchanged Counters
And it should look something like this:
http://img223.imageshack.us/my.php?image=cadicp7.jpg
Thanks!
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Rank: Advanced Member
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Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth
Was thanked: 2 time(s) in 2 post(s)
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Maxforce, you may want to look at the similarily-constructed UpDown Oscillator from MetaStockTools.com.
"UpDown Oscillator - measures Up/Down bar count against unchanged bars. With automatic over-bought/sold levels and signals."
jose '-)
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Rank: Member
Groups: Registered, Registered Users
Joined: 7/22/2006(UTC)
Posts: 11
Location: Malaysia
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Dear Jose,
Thank you for the reply. Cool oscilator, though I am still unsure how it works. Need more thorough testing. Any reference material to this oscillator?
On the other hand, I don't think this oscillator measures the market breadth, does it? I may not have been clear in my previous post, the mentioned CADI was to measure the total number of counters up over the total number of unchanged counters minus the total number of counters up over the total number of unchanged counters. Supposingly could be viewed as a candlestick chart.
I apologize for the confusion caused and appreciate any help.
Alternatively, is there any other indicator which could measure market breadth and not having to subscribe to a data provider? As I am still a new trader starting out, I rather not commit to a monthly subscription.
Thanks!
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth
Was thanked: 2 time(s) in 2 post(s)
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Sorry Max, I thought you were talking about Up and Down bars for a single security.
Reliable and accurate Market Breadth is best dealt with by a quality data provider.
The UpDown Osc is best understood when plotted below any chart.
jose '-)
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Rank: Member
Groups: Registered, Registered Users
Joined: 7/22/2006(UTC)
Posts: 11
Location: Malaysia
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OK. Got it. Thanks anyway.
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