––––History & Credit The indicator was taught to me by an advanced IBD Masterclass that I attended about 8 years ago. When it happens it is noteworthy.
–––––What it does It shows when there is a positive breadth thrust. It calculates, based on IBD's backtested criteria a strong breadth thrust in either direction. Up or down. The IBD guidelines is to use the NYSE market for this but I have made it so that you can choose between NYSE, AMEX, NASDAQ. The best signals happen within 2 weeks of Follow Through Day.
The indicator prints 2 signals only in a form of an arrow. 1. Eureka Thrust - this is the positive breadth thrust, prints under the bar pointing up 2. Phoenix Thrust - this is the negative breadth, prints over the bar pointing down
–––––How to use it The arrows show positive or negative environment for trading. The results happen close to the turn of the trend. It should be used as part of the general market assessment.
I use the indicator on the S&P500 or NASDAQ Composite Daily timeframe. I take into consideration this indicator to determine my market exposure.