Last Updated: 8:39 12/1/2020 EST
NOTE: ALL candidates should know indicators from previous levels
Level Name
2 Advance Decline Index
1 Advance -Declines
1 Arms Index
2 Bolton-Tremblay
1 Breadth Thrust
1 McClellan Oscillator
1 New Highs & Lows
2 Shultz
2 Sibbett's Demand Index
2 Thrust Oscillator
2 Upside/Downside Ratio
2 Equivolume - Richard Arms'
2 Periodogram
1 Short Interest
Group Description
Breadth Uses the AD value and accumulates it like OBV
Breadth Most simple breadth measure. # of Advancers LESS # of Decliners
Ratio of 2 Ratios. Ratio of stocks advancing and declining & a ratio of
Breadth volume of advancing volume to declining volume. See calculation
Slide 11, Breadth
Considers the net advancing stocks compared to the number of
Breadth
stocks that were unchanged. See calculation Slide 7, Breadth
A thrust is when there is a deviation from the normal values that is
Breadth large enough to be seen. Calculate ratio of Advancers to Advance +
Decline. Smooth with a 10-period SMA
Uses a MACD type expression to further smooth. See calculation
Breadth
Slide 9, Breadth
Breadth Price Based Sentiment Indicator. See calculation Slide 13, Breadth
Only considers Advances as a percentage of the total number of
Breadth
stocks. See calculation Slide 8, Shultz
Smooths volume by using the avtivity of past N-days. See calculation
Breadth
Slide 6, Breadth
Considers the net of advancing and declining stocks as well as their
Breadth
volume. See calculation Slide 12, Breadth
0-1 is the limit of the downside range when stocks are declining.
Breadth Upside is not bounded when stocks are advancing. UDR =
Advancing Volume / Declining Volume
Takes the unique view of substituting volume for time on the x-axis.
Chart
Bars with more volume are wider.
Cycles Use Sine and Cosine to break up all cycles into their components
Fundamental Represents the number of shares being held short

1 Open Interest
1 Fibonacci Retracements
1 Horizontal Target (P&F)
1 Pivot Points
1 Retracements
1 Speed Lines
1 Vertical Target (P&F)
2 A/D Oscillator
2 Aspray's Demand Oscillator
1 AutoCorrelation
1 Average Directional Index (ADX) Oscillator
1 Bollinger Bandwidth Indicator
Chaikin Accumulation
1 Oscillator
Distribution
1 Chaikin Money Flow
1 Chaikin Oscillator
2 Cycle Channel Index
Number of outstanding futures contracts that need to be traded
Indicator
before contract expiry. Unique to futures markets
Measuring Watch retracement levels for signs of reversal
Ht = Pl + (WxR). Ht = Upside Target. Pl = Lowest Box Price. W = Width
Measuring
of Formation. R = Reversal Value
Measuring Calculated by comparing current bar to previous high & low
Measuring
Drawn lines from the start through the end of Fibonacci Retracement
Measuring
Levels
Vt = Pl + (FRxRC). Vt = Vertical Target. Pl = Lowest Box Price. FR = Size
Measuring
of First Reversal (Box Count x Box Size). RC = Reversal Count
Accumulation/Distribution. Buying Power is Open to High. Selling
Oscillator
Power is Close to Low.
Uses direction to separate volume into Buying Pressure and Selling
Oscillator
Pressure
Looks for relationships within the same dataset by increasing the
Oscillator
lookback interval and doing a correlation on a linear regression
DX is the absolute difference between the DMI+ & DMI-. ADX is the
moving average of the DX values. Measures the strength of the trend
while DMI's show direction
Distance between the high and low band is a good indicator of
Oscillator
volatility
Uses a concept of buying pressure and selling pressure. CAD
= Volume x ([close - low] - [high - close]) / (high - low)
Uses the Chaikin Accumulation Distribution value and divides it by the
Oscillator total volume to create a ratio. CMF =
(Sum of Chaikin A/D) / (Sum of Total Volume)
Takes the Chaikin AD and applies a 3-day EMA and a 10-day EMA.
Oscillator
Also includes Bollinger Bands for which signals to follow
Trend-following tool that operates well in markets with a well-
Oscillator
defined cyclical pattern

2 Cycle Difference
1 Directional Movement Indicator Oscillator
2 Divergence Index
2 Elastic VWAP
2 Fisher Transform
1 Force Index
1 Herrick Payoff Index
2 Hilbert Transform
2 Intraday Intensity
2 MACD
2 Momentum
1 Money Flow Index
2 Normalized Volume
1 On-Balance Volume
Add a 40-period SMA and then measure the difference between the
Oscillator
average and price. Reveals sub-cycles
14-period average using the Wilder Moving Average for +DM & -DM.
DMI+ is the ratio between +DM & 14-period ATR. DMI- is the
opposite
DI = (Fast MA - Slow MA) / (SD (Price(today) - Price(today-1), Slow
Oscillator
Period)^2. Band = SD(D1, Slow Period)
Uses a ratio between the number of outstanding shares, the current
Oscillator price & the volume of both the next and previous peridos. See
calculation Slide 35, Volume, Open Interest
The Fisher Transform takes the distribution above and changes it to
Oscillator
one that is approximately Gaussian by using natural logarithms
Oscillator Change in Closes multiplied by the volume
Oscillator Futures indicator that uses both Volume & Open Interest
Separates the cycle phase into two components: Quadrature &
Oscillator
InPhase. Built from four bars using quadratics
Uses distribution of daily trading range. Uses relationship of the close
Oscillator to the high & low. If the day closes nearer to the high, then the
volume is added. See calculation Slide 27, Volume, Open Interest
Exponential Moving Average of an Exponential Oscillator. Histogram
Oscillator
is above 0 in an uptrend.
Momentum = Price(today) - Price(today-n days). Smooths price and
Oscillator
helps identify trends. Slope reveals acceleration
MoneyFlow = Volume x ( (High+Low+Close) / 3 )
Oscillator MoneyRatio = (Sum(MoneyFlow) if > 0) / (Sum(MoneyFlow) if < 0)
MFI = 100 - ( 100 / (1 + MoneyRatio) )
Turns today's volume into a percentage of average volume over a
Oscillator
look-back period
On up days, all volume is allocated to the buyers. Down days to
Oscillator sellers. Volume is then either added or subtracted from the previous
value.

2 Oscillator
Positive / Negative Volume
2 Oscillator
Index
1 Price & Volume Trend
2 Rate of Change
2 Relative Strength Index (RSI)
2 Relative Vigor Index
2 Short Cycle Indicator
2 Stochastic
2 Tick Volume Oscillator
2 TRIX
2 True Strength Index
1 Twiggs Money Flow
2 Ultimate Oscillator
2 Volume Accumulator
2 Volume Count indicator
Difference between 2 moving averages, Slow & Fast. Peaks & troughs
Oscillator
show that the fast MA is turning and the trend is losing strength
Splits the concept of price adjusted volume into positive and negative
Applies volume to the daily percentage change in price. See
Oscillator
calculation Slide 28, Volume, Open Interest
Momentum per Bar. Shape is the same but values are different. ROC
Oscillator
= ( Price(today) - Price (today-n days) ) / n
Measures upwards and downwards movements and calculates a
Oscillator ratio. Compares the magnitued of gains to losses over the lookback
period.
Measures the range from the open to the close and divides by range
Oscillator
from high to low
Based off the squared difference between two EMAs. Which are
Oscillator compared in a Stochastic fashion. Reacts to changing volatility. See
calculation Slide 32, Cycles Analysis
Uses High and Low prices and measures relative position within the
Oscillator
range of the lookback period
Similar to Wilder's RSI Oscillator. Tick Volume is double smoothed.
Oscillator
Used to confirm price direction
Oscillator EMA of an EMA of an EMA. Triple Smoothed Exponential
Oscillator Double Smoothed. Has less lag than expected and is still very smooth.
Corrects potential flaws in CMF by using Wilder's True Range
Oscillator
calculation for the High and Low and EMA's for the sums
Usines William's Buying Pressure & Wilder's True Range concepts
Oscillator
over 7, 14, & 28 periods
Calculates a ratio based on the position of the close to the average
Oscillator price of the intra-day data. See calculation Slide 25, Volume, Open
Interest
Similar to OBV but adds 1 for increasing volume days and subtracts 1
Oscillator for decreasing volume days. See calculation Slide 25, Volume, Open
Interest
2 Volume Momentum Oscillator Exactly like price momentum but placed over volume.
Compare 2 moving averages of Volume. Used to visualise volume
1 Volume Oscillator Oscillator
patterns
Closing prices are multiplied by Volume, These are averaged and the
2 Volume Weighted MACD Oscillator
MACD Oscillator and Signal line calculated.
Inverse of Stochastic. Measures the range from the High instead of
2 Williams %R Oscillator from the Low. %R = 100 x ( (Highest High - Close) / (Highest high -
Lowest Low ) )
Uses True Range in calculation. True Range High = Max. True Range
Williams Accumulation
1 Oscillator Low = Min. If today's close > yesterdays, AD = Close - TRL. Otherwise,
Distribution
AD = close - TRH
Williams Variable Accumulation Uses the difference between the day's Open and Close in relation to
1 Oscillator
Distribution the High & Low
Based on ATR from the low of the data. Only gets closer to price.
1 Chandelier Stop Stop
Reverses when triggered
Uses acceleation factor. Does not consider volatility, subject to
1 Parabolic Stop & Reverse Stop
whipsaws
1 Andrew's Pitchfork Trend
2 Average Volume Trend Simple Moving Average of Volume. Needs to be at least 50-periods.
Plus or Minus 2 Standard Devations should account for 95% of price
1 Bollinger Bands Trend
action
SMA offset by half the period of the moving average. Average of the
2 Centered Moving Average Trend
data on either side
1 Channels Trend Manually drawn
1 Donchian Channel Trend Shows highest & lowest prices over the past four weeks
Moving Average Bands that are offset from the central MA by a fixed
1 Envelopes Trend
interval (in points or percent).
1 Exponential Moving Average Trend Calculation is 100 - (2 / (Periods + 1) )

1 Gann Fans Trend Identifies speed of trend using lines of 1x1, 2x1, 1x2, 3x1, 1x3, etc
SMA of percent changes between previous price & current price. See
1 Geometric Moving Average Trend
calculation Slide 8, Moving Averages
1 Keltner Channels Trend Calculates the average of the bar range
1 Simple Moving Average Trend Average of the previous 10 values
STARC Bands - See Keltner
1 Trend Uses traditional ATR's in the calculation
Channels
1 Trend Line Trend Manually drawn. Under troughs uptrend. Above peaks in downtrend.
2 Triangular Moving Average Trend Takes a SMA & calculates a SMA with half the period length
Triangular Weighted Moving Gives more weight to the middle of the period. Ex. In a 20-period MA,
2 Trend
Average more weight is on the 10th period
An exponential moving average that adapts to volatility. When prices
2 Variable EMA Trend
are congested, it slows down (gets longer) to avoid whipsaw.
Volume Weighted Average Price Examines every tick in the period. Prices are weighted by the total
2 Trend
(VWAP) volume at that price. Average considers the volume.
Gives extra weight to recent data. Most recent price (in 10 period) is
2 Weighted Moving Average Trend
multiplied by 10. Price before multipled by 9, etc.
2 Wilder Moving Average Trend ( (Periods - 1) x (Yesterday's MA) + Price ) / Periods
1 Volume Volume High Volume confirms significant reversal points
Accumulation/Distribution - See
2 Chaikin Accumulation
Distribution
Elder Force Index - See Force
1
Index