New High New Low Index: Highs, Lows, and Their Combined Index

Summary

The document describes a New High New Low indicator that displays a symbol’s high and low values over a selected period. It also calculates a combined HL index by summing the high and low measures. The only setting described is the period used for those calculations.

This is a brief indicator description rather than a trading strategy or empirical analysis. It does not specify how new highs or lows are defined, give a formula for the combined index, or explain how to interpret readings as signals. No markets, examples, tests, or performance evidence are provided, so the material is best treated as a basic overview of the indicator’s stated inputs and outputs.

Key ideas

• The indicator displays high and low values for a chosen period.
• It also reports a combined HL index based on the high and low measures.
• The period is its sole described input.
• The document gives no signal rules or evidence of trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.