Subject: NHNL signal on P123
I created a P123 screen {NHNLp} that can count new highs and lows. Average counts from 20210104 to 20251125 compared to GTR1 [NYNLDiff] are:
Count NH NL NHNL
GTR1 2315 60 105 -1.84%
P123 2439 69 107 -1.39%
p:g ratio 1.05 1.15 1.01
difference 0.45%
Count is the number of stocks passing the following steps:
step0: Nasdaq listed
step1: [Security Type] == ordinary or REIT
step2: [Mkt Days Since Security Opened] >= 252
step3: only one stock per company
Compared to GTR1, there are about 5% more stocks in P123 Count, as expected. Proportionally, there are more new highs and fewer new lows in P123. On average, NHNLp is about 0.45 higher than NYNLDiff. This suggests using a zero cutoff for {NHNLp}. The number of bear signals are:
28 [NYNLDiff]<-0.4 bear signals
30 {NHNLp}<0 bear signals
25 signals match
Dates the NHNL signals turn bearish:
gSignal pSignal DaysDiff
20210716 20210715 -1
20210727
20210817 20210817 0
20210921
20211004 20211004 0
20211118 20211118 0
20220331 20220331 0
20220822 20220822 0
20221102
20230221 20230224 3
20230306
20230623 20230623 0
20230727 20230727 0
20230804 20230807 3
20240111 20240111 0
20240205 20240205 0
20240314 20240314 0
20240404 20240404 0
20240523 20240523 0
20240802 20240802 0
20240904 20240904 0
20241001 20240927 -4
20241031 20241031 0
20241118 20241118 0
20241213 20241213 0
20250108 20250108 0
20250129
20250131
20250207
20250617 20250616 -1
20250801 20250801 0
20250821
20251031 20251030 -1
Overall, there is a good match between the {NHNLp} and [NYNLDiff] signals.
=== P123 code ===
P123 {NHNLp}
Universe(ALLSTOCKS)
ExchangeCode = 14 //NASDAQ
Country("USA")
!IsMLP & !IsOTC & !IsUnlisted
!IsADR
SecurityType = Common
Universe(ALLFUND)
Close(253) > 0
Price > HighVal(251,1)
[OFF] Price < LowVal(251,1)