Barchart.com
Less than $10/month! Get more Watchlists, Portfolios, Custom Views and Chart Templates with Barchart Plus. FREE 30 Day Trial
Menu
alerts false
Stocks | Futures | Watchlist | News | More
 
Advanced search
or
Watchlist | Portfolio | Dashboard
Site News
Contact
Market:
Learn Menu

Learn

Technical Indicators

Fri, Jun 6th, 2025
Go To:
The descriptions, formulas, and parameters shown below apply to both Interactive Charts and Snapshot Charts, unless noted. Please note that some of the parameters may be slightly different between the two versions of charts.
Studies noted with * are available only in Snapshot Charts and those noted with ^ are available only in Interactive Charts.
Previous
Next
Please wait...

New High/Low Accumulation Index

Indicator Type: Standalone

Chart Type: Interactive Charts Only

The New High – New Low Index by Dr Alexander Elder and Kerry Lovvorn

The New High Low Accumulation Index is designed to confirm bull markets and identify major stock market bottoms.  It is described in detail in the e-book The New High – New Low Index by Dr Alexander Elder and Kerry Lovvorn.

The index is based on the Barchart 52-Week High-Low Index $MADX which calculates the difference between the number of common stocks making a new 52-Week High and new 52-Week Low during the current trading session. The $MADXindex encompasses around 4,500 stocks each day. The New High Low Accumulation Index for each day is calculated by summing up the Barchart 52-Week High-Low Index for the past five trading days, creating a weekly plot.


The New High Low Accumulation Index rises above +1,000 only during major bull markets, where it confirms them.  It falls below the -4,000 level only at major stock market bottoms, which occur a few times in each decade. When this index falls below -4,000 and then rises above that level, it gives one of the strongest buy signals in technical analysis.

The New High Low Accumulation Index can also be viewed using the Barchart 52-Week High-Low Market Cap Index which calculates based on the differential of the Market Capitalization of Stocks making a new high and new low using Barchart symbol $FADX.

$MADX - Barchart 52-Week High-Low Index  - https://www.barchart.com/stocks/quotes/$MADX/interactive-chart

$FADX - Barchart 52-Week High-Low Market Cap Index - https://www.barchart.com/stocks/quotes/$FADX/interactive-chart

On the chart below of the S&P 500, the New High Low Accumulation Index reversal from the low signaled the market bottom in Dec 2018, as well as March 2020. In more recent times, while the rally from the low in May 2022 was short lived, the September 2022 reversal below the -4,000 point was within a couple of weeks of the market low before the market rallied again.

New High/Low Accumulation Index

Parameters

  • Period (5): The number of periods to use in the calculation for each bar.
  • Source (PriceIndex): The Barchart special symbol to use for the last price. Default 'PriceIndex' refers to Barchart symbol $MADX, the symbol that tracks the 52-Week Hi-Lo Overall. You may also select 'MarketCapIndex' which uses $FADX, the symbol that tracks the 52-Week Market Cap Hi-Lo Overall.
Want to use this as
your default charts setting?
Save this setup as a Chart Templates
Switch the Market flag
for targeted data from your country of choice.
Open the menu and switch the
Market flag for targeted data from your country of choice.
Want Streaming Chart Updates?
Switch your Site Preferences
to use Interactive Charts
Need More Chart Options?
Right-click on the chart to open the Interactive Chart menu.
Use your up/down arrows to move through the symbols.
Free Barchart Webinar
The Coil Before the Break: How to Spot and Trade Long-Term Consolidation Patterns
Wed, Jun 11, 2025 5:00 PM UTC
Reserve Your Spot