NYSE New Highs vs New Lows

NYSE New Highs vs New Lows is a simple market breadth indicator that compares HIGN, the number of new highs during that day, and LOWN, the number of new lows. The new highs are on top and lows are appropriately on bottom. Without averaging, it's a little chaotic so you can smooth them out as much as you want, and the top-right label shows how much you're smoothing.

Interpretation:
Essentially, we use $SPY or $QQQ as a proxy for what's going on in the market, but because the FAANG stocks are so heavily weighted, it's not always representative. If SPY is flat/down, but there are 200 new highs today, then one of the big boys is weighing down an otherwise very bullish market. It's like looking at one of those heatmap charts, but in a single number.

Bullish Trend
- Lots of new highs
- Very few new lows

Bearish Trend
- Lots of new lows
- Very few new highs

Potential Reversal
- Too high, 250+
- Too low, 150+

Release Notes:

Added option for cumulative count. Adjusted line/column colors. Label always said "day" even when it was on weekly so had to figure that out.