Ask Colin

Where can I find the data for the New Highs - New Lows indicator?

New highs are shares that trade on a day at a higher price than they have traded in the last 52 weeks. New lows are shares that trade on a day at a lower price than they have traded in the last 52 weeks.

The Australian Financial Review lists them in a table called Rolling year Records. Because they also include securities other than fully paid shares, it is important not to could a stock twice - e.g. by counting both the shares and the options or preference shares. I do this by counting up only the number of three letter codes (e.g. BHP, but not BHPO) in the highs and lows lists.

The other way to do it is with charting software. I use Insight Trader and it allows me to interrogate the data base each day for the number of new highs and new lows. The number varies a little from the AFR, because of several technical issues. I do not think the difference is important, because it is the general direction of the data rather than the precise numbers that is important.

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