Breadth Analyzer

New Breadth ticker

A special new ticker type named Breadth has been added to version 8.1 of TradingExpert Pro.  Like all tickers, the Breadth ticker is created with the New Ticker function in Data Manager.

Breadth ticker values are not downloaded directly.  Instead, Data Retrieval computes them in accord with an Expert Design Studio screening formula specified by the user in the ticker creation process.  For each Breadth ticker, the user specifies an EDS rule and a list of tickers. Following a data update, Data Retrieval computes the number of tickers in the list that pass the rule. This number, expressed as a percentage of the number of tickers in the list, is computed and stored in the ticker’s data file.  It represents the breadth of the tickers in the list that pass the rule’s screening criteria.  Breadth tickers can be charted and or be incorporated into other screening rules.

How to create a Breadth ticker

1.  Select New from the Ticker menu.  The New Ticker dialog box will appear.

2.  Enter a name for the Breadth ticker you are creating.

3.  In the Type section, select Breadth.

4.  Click OK.

5.  In the next box that appears, do the following.

·      Enter a Description (optional).

·      Click the arrow on the Source box to display your available lists.  Select the list of tickers you want to use for screening.

·      Click the button at the right end of the EDS File box.  Use the Open box that appears to find and select the strategy file containing the EDS rule that you want to use for this Breadth ticker.

·      Click the arrow on the EDS Rule box to see a list of rules for the selected strategy.

·      Enter the date that you want to begin computing data for the ticker in the First box in the Date Ranges section.

·      Click OK to add the ticker to your Master List.

6.  The new ticker will now appear in the Master Ticker List with Breadth in the Type column.


Compute breadth data for new Breadth ticker

A special function has been added to compute historical data for Breadth tickers.

To compute breadth data:

1.  From the Utilities menu, select Compute Breadth Analysis.

2.  In the Breadth Analysis Computation window, make the following entries:

  Source: Select the Tickers option and enter the name of the new Breadth ticker.

   Range: Select Compute From Last Date of Data.

3.  Click OK to begin the computation.  The Compute Breadth window will appear and display the progress of the computation.

4. When the Compute Breadth window closes, the computation is complete.

Breadth ticker charts

Breadth tickers my be charted like any other ticker.

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Updating Breadth ticker data

1.  Open the Data Retrieval application.

2.  In the After Updates section of the Data Retrieval Options page, check the Update Breadth Tickers option box.

3.  To save this change so that Breadth tickers will be updated after all subsequent data updates, click the Save Setup command button.

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breadth Ticker Example

Using Ticker, New, create a new ticker called RSIOVERB.

The second screen is where we define what this ticker will contain. In this instance we want to create a ticker that shows us the percentage of SP500 stocks on any given day that are in overbought territory of the RSI Wilder indicator. In the new ticker screen we need to define the list of tickers we will analyze, in this case the SP500. Next we define the EDS file that contains the rule that we will use to analyze the stocks, in this case the built-in EDS Strategies\Technical Indicator Strategies\Strategies Using One Indicator\RSI Wilder\RSI Wilder in Overbought Territory.eds. With the EDS file selected we select the rule from the pull-down box, in this case RSIWIlderover70.

Using Utilities, Compute Breadth Analysis, to compute the data for the ticker.

The ticker can now be charted as is, in the example below the breadth ticker RSIOVERB is charted with an overlay of the SPX index.

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Creating a custom indicator for a breadth Ticker Example

In EDS you can create a custom indicator for the breadth ticker using TickerUDF. In this example we are using the breadth ticker RSIOVERB to build an indicator called percent_SP500_overbought_RSIwilder.

! RSI Wilder is in overbought territory

RSIWilderover70 if [RSI Wilder]>70.
close is [close].
!build a custom indicator for RSIOVERB

percent_SP500_overbought_RSIwilder is tickerudf("RSIOVERB",close).

Here we can see a chart of the SP500 index with the new custom indicator percent_SP500_overbought_RSIwilder.

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Breadth Analyzer learn more

How to create a Breadth ticker

Compute breadth data for new Breadth ticker

Updating Breadth ticker data

breadth Ticker Example

Creating a custom indicator for a breadth Ticker Example
Download an example EDS file and breadth ticker

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