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Market Breadth: NH/NL

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Market Breadth: NH/NL Indicator

This indicator tracks the daily number of stocks making New Highs (NH) and New Lows (NL) across the NYSE and NASDAQ exchanges to evaluate underlying market breadth.

Key Features:

Data Source: Utilizes native TradingView breadth tickers (USI:NYH, USI:NYL, USI:NDH, USI:NDL).

Visual Layout: New Highs are plotted above the zero line. New Lows are inverted and plotted below the zero line for immediate visual assessment of market bias.

Formatting: NYSE breadth is displayed as a histogram. NASDAQ breadth is overlaid as continuous lines.

Application: Used to gauge internal market participation, measure trend strength, and identify structural divergences between price action and breadth.

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