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Short Term Trading Index by Norman Fosback
3. Stock Market Logic, Norman Fosback 1993 p.131
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(Note: This book discusses the Short Term Trading Index which it defines as the inverse of the TRIN.)

"The Short Term Trading Index measures the concentration of volume in advancing and declining stocks. According to the most popular interpretation, if more volume is flowing into the average advancing stock than into the average declining stock, the situation is bullish for the market. Alternately, a preponderance of volume in declining
issues is bearish.

The calculation method shown below is slightly different from that used by most analysts, but readers should find it more understandable and easier to calculate.

Short Term Trading Index = (AV / A) / (DV / D)
where
AV = Volume of Advancing Stocks
DV = Volume of Declining Stocks
A = Number of Advancing Stocks
D = Number of Declining Stocks"


Short Term Trading Index

{**********************************************}
{Coded 4 MS by Piotr Kaleta -> Trader-Online.tk}
{**********************************************}

  {Advancing Vol.} AV:= Security("X.WSE-A",V);
{Advancing Stocks} AS:= Security("X.WSE-A",C);
  {Declining Vol.} DV:= Security("X.WSE-D",V);
{Advancing Stocks} DS:= Security("X.WSE-D",C);

STTI:= (AV/AS)/(DV/DS);
STTI

 

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