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)

Mechanical Investing FAQ

---

Contact Shrewd'm
Contact the developer of these message boards.