I was looking at the Trader Feed infamous t2123 indicator 20 day highs AKA 4week highs.
one would think this was a breadth indicator but I have disputed it, said it's probably more like an osolator. I'm hoping it shows... but I think it gives you a lagging sell indicator... and what I marked is when it turns red(negative/declining) and turns down. It does give some false signals... but seems usable... but not as Breadth... or as a divergence... as you can see.
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I was playing with this chart and added a 5-d MA (about 1/4th the time frame) to get a buy-sell signal...
http://starwealth.blogspot.com/2009/08/eric-and-traderfeeds-2123.html
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