Divergence

In his Trade Levels Report, Haurlan included an indicator he called the Haurlan Index.  There were actually 3 versions of this indicator, for short, intermediate, and long term timing purposes.  Each one looked at the daily Advance-Decline (A-D) difference, and used different smoothing factors to incorporate that data into an indicator.


http://pragcap.com/long-term-haurlan-index-divergence