I'm looking for a BPI (Bullish Percent Index) indicator for Tradestation. I'm not an experienced coder - so any help anyone can provide would be greatly appreciated. Thank you
I found information on this index and how it's used at the following links:
http://www.stockhouse.ca/shfn/editorial.asp?edtID=19454
and a recent video:
http://www.screencast.com/users/Leav...1-3fd0bc84c4ca
I also found the following information on StockCharts.com
Bullish Percent Index (BPI)
The Bullish Percent Index (BPI) is a popular market breadth indicator that is calculated by dividing the number of stocks in a given group (an exchange, an industry, etc.) that are currently trading with Point and Figure buy signals, by the total number of stocks in that group. Bullish Percent levels that are above 70% are considered overbought, whereas levels below 30% are considered oversold. Strong buy signals occur when the Bullish Percent Index falls below 30% and then reverses up by at least 6%. Conversely, promising sell signals occur when it goes above 70%, and then reverses down by at least 6%.
It is important to note that the Bullish Percent Index is not something that can be applied to a single stock but rather an index that is calculated for a group of stocks.
The most popular version of this chart is the NYSE Bullish Percent ($BPNYA) which is mentioned prominently in Thomas Dorsey's book, Point & Figure Charting, however it is important to remember that the Bullish Percent index can be calculated for any grouping of stocks.
Because the NYSE's Bullish Percent Index is so closely followed, each day we also publish the list of NYSE stocks with P&F buy signals as well as the list of all stocks in the current NYSE "universe". Those lists can be found on our NYSE BPI Components page.
Traditionally, the Bullish Percent indicator is charted on a Point and Figure chart (example) using a 2 point box size. However, the indicator can also be charted and studied using standard charts (example) as well.
Linear Mode
