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Mike Webster (Webby) is a portfolio manager for a private fund and the former IBD Head Market Strategist and O’Neil Capital Management portfolio manger.
Webby recently returned to IBD live and discussed 4 indicators he is using on his charts. Due to Webby’s fund structure he is unable to share the source codes for his indicators, however I was able to recreate them based on his descriptions shared. I will post a link to the video below.
Webby’s RSI 2.0 - Measures a securities extension from the 21-day exponential moving average based on the 50 day average true range.
Webby’s % Off 52 Week High - Measures a securities distance from its 52 week high.
Webby’s RS Line - A histogram of the distance between the RS Line and the 21-day exponential moving average of the RS Line based on the lows.
Webby’s Tight Indicator - Measures a securities volatility relative to itself over time.
Webby talking about the indicators.
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The content presented is for informational and educational purposes only. Nothing contained in this newsletter should be construed as financial advice or a recommendation to buy or sell any security. Please do your own due diligence or contact a licensed financial advisor as participating in the financial markets involves risk.