Gain Loss Count Indicator

Gain loss count indicator calculates the percentage of sessions when price was bullish and the percentage of sessions when price was bearish during the period defined by the user.

GLC indicator is an oscillator that ranges between +100 and -100. Positive readings show that the winning sessions are higher than losing sessions. It shows strong momentum and a bullish trend. Negative reading indicates that there are more losing sessions than gaining sessions and it is a strong bearish trend.

Higher GLC readings and zero-line crossovers are bullish signals. Lower GLC indicator readings and below zero-line are bearish signals.

The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.

The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.

This indicator is also available in the System Builder of RZone & TradePoint for all charting methods. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.