Hindenburg Omen

[sickwake 10]

Hey guys,

 

Just wondering where to find current readings of the hindenburg omen. Studying crashes from the past to see if its an indicator worth keeping. But cant find it on stockcharts, freestockscharts or yahoo. it is a chart indicator right?

 

Thanks everyone!

[TraderNewsDeck 10]

Couldnt find any indicators, heres the formula

 

The Wikipedia article contains an early set of criteria for the HO:

 

Both New Highs (NH) and New Lows (NL) must exceed 2.2% of total NYSE issues on the same day.

 

The smaller of these must be greater than or equal to 69 (note: the Wikipedia rules used to say 79, which was more than 2.2% of total NYSE issues for most of history).

 

The 10-week MA of the NYSE Comp (NYA) is rising (i.e. market is in an uptrend, which is important since you don't need an omen that a downtrend might be coming if you are already in a downtrend).

 

McClellan Oscillator is negative.

NH cannot be more than 2x NL.

 

 

The criteria that Miekka provided are different from the ones listed in Wikipedia, likely due to refinements that Miekka made:

 

Both NH and NL must exceed 2.8% of the sum of Advances plus Declines (unchanged issues ignored) on the same day.

 

The NYSE Comp (NYA) must be above its value of 50 trading days ago (a conversion from a weekly MA rule to a rule befitting daily data).

 

Once initiated, the signal is valid for 30 trading days, and any additional HO signals during those 30 TD should be ignored.

 

The signal is activated (i.e. go short) whenever the McClellan Oscillator is negative, and deactivated whenever the McClellan Oscillator is positive (within the 30 TD window).