Name, Sometimes Called:
New High – 52 week
An example of the Price Channel Trading Range Breakout Rule.
Sometimes called an n-Day Rule.
Brief Description:
The n52hi is possibly the simplest of indicators:
It compares the current closing price with those of the previous
52 weeks.
Definitions, Formulas:
The n52hi may be the simplest of technical indicators.
It simply compares the current closing price with the closing prices
over the previous 52 weeks.
N52hi is true today if CP(Today) is greater than max((CP( Previous
52 Weeks)) where
CP = closing price
N52hi is false otherwise.
Positive Development Calculation:
For this TAI, a new positive development (NPD)
occurs when n52hi is true. It is good for today only.
By definition, this TAI has no Cumulative Positive Developments
(CPD)
.
History:
The n52hi indicator is one of a class of indicators
(the so-called n-week indicators) whose origins are lost
in the mists of time. Their simplicity makes it difficult to determine
who first decided to simply find a high closing price over a given
period.
This chart shows the n52hi indicator. The horizontal green bars
are 52-weeks long. The A-range indicates a period from late December
2004 through mid January 2005 where every day was a new 52-week
high. Same for the B-range. C indicates what appears to be a single
day new 52-week high. Several other 52-week highs (such as the ones
in early February 2005) are not charted.
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