NewHighsNewLows

New Highs − New Lows — the number of symbols printing a new period high minus the number printing a new period low across a universe. A leadership gauge built from the per-symbol new-extreme flags.

Quick reference

Item	Value
Family	Market Breadth
Input type	CrossSection — the per-symbol state of the whole universe
Output type	f64 (net count; may be negative)
Output range	-N..=N for a universe of N symbols
Default parameters	none
Warmup period	1
Interpretation	Leadership breadth / new-extreme participation

Formula

nhnl = new_highs - new_lows   # per tick, from each member's new_high / new_low flags

where new_highs counts members whose new_high flag is set and new_lows counts members whose new_low flag is set. Stateless per tick and O(universe size). See crates/wickra-core/src/indicators/new_highs_new_lows.rs.

Parameters

None. Construct with NewHighsNewLows::new().

Parameter	Type	Default	Source
—	—	—	None.

Inputs / Outputs

Indicator<Input = CrossSection, Output = f64>:

use wickra::{CrossSection, Indicator, NewHighsNewLows};

const _: fn(&mut NewHighsNewLows, CrossSection) -> Option<f64> =
    <NewHighsNewLows as Indicator>::update;

This indicator reads the new_high / new_low flags (not change or volume). The bindings pass a tick as four equal-length parallel arrays:

• Python: update(change, volume, new_high, new_low); batch(...) returns a 1-D ndarray.
• Node: update(change, volume, newHigh, newLow); batch returns number[].
• WASM: update(change, volume, newHigh, newLow) only; the flag arrays are numeric (non-zero is true).

Warmup

warmup_period() == 1; defined from the first tick (tests accessors_and_metadata, first_tick_emits_net_extremes).

Edge cases

• More lows than highs. Returns a negative value (test more_lows_than_highs_is_negative).
• No extremes. A tick with no new highs or lows returns 0.0 (test no_extremes_yields_zero).
• Reset. reset() returns the indicator to not-ready (test reset_clears_state).
• Invalid / empty universe. Rejected at construction by CrossSection::new.

Examples

Rust

use wickra::{CrossSection, Indicator, Member, NewHighsNewLows};

let mut nhnl = NewHighsNewLows::new();
// 2 new highs, 1 new low -> net +1.
let tick = CrossSection::new(
    vec![
        Member::new(1.0, 10.0, true, false),
        Member::new(1.0, 10.0, true, false),
        Member::new(-1.0, 10.0, false, true),
    ],
    0,
)?;
assert_eq!(nhnl.update(tick), Some(1.0));

Python

import wickra as ta

nhnl = ta.NewHighsNewLows()
# new_high flags on the first two, new_low on the third.
print(nhnl.update([1.0, 1.0, -1.0], [10.0] * 3, [True, True, False], [False, False, True]))
# 1.0

Node

const { NewHighsNewLows } = require('wickra');

const nhnl = new NewHighsNewLows();
console.log(
  nhnl.update([1, 1, -1], [10, 10, 10], [true, true, false], [false, false, true]),
);
// 1

Streaming

import wickra as ta

nhnl = ta.NewHighsNewLows()
print(nhnl.update([1.0, 1.0, -1.0], [10.0] * 3, [True, True, False], [False, False, True]))  # 1.0
print(nhnl.update([1.0, -1.0, -1.0], [10.0] * 3, [True, False, False], [False, True, True]))  # -1.0

Interpretation

New Highs − New Lows captures whether fresh leadership is broadening or narrowing.

1. Positive and rising. Many names making new highs — leadership is broad and the trend is healthy.
2. Negative during an index advance. A classic breadth divergence: the index is up but more issues are making new lows than highs — the rally is narrowing.
3. Foundation for the High-Low Index. This raw net is smoothed (as the record-high percent) into the HighLowIndex.

Common pitfalls

• Flag definition. The "new high/low" lookback is whatever you used to set the flags; keep it consistent across the universe and over time.
• Universe must be stable. Changing membership makes the counts incomparable.
• Raw and noisy. The day-to-day net is volatile — most analysts smooth it (see HighLowIndex).

References

• Colby, R. W. (2002). The Encyclopedia of Technical Market Indicators (2nd ed.) — New Highs − New Lows.

See also

• Indicator-HighLowIndex — the smoothed record-high percent built on these counts.
• Indicators-Overview — the full taxonomy.