NDX Money Flow is computed by continually accumulating the dollar value of trades in the NDX component stocks. If a trade happens at the ‘asked’ price or higher, the dollar value (price times volume) of that trade adds to the indicator. If a trade happens at the ‘bid’ price or lower, the dollar value of that trade subtracts from the indicator. Note that the dollar value of each trade is also weighted according to each stock’s component weight in the index. Consequently, NDX Money Flow is a unit-less number. You may see it expressed as a number in the millions, but this is not millions of shares, nor millions of dollars; it is just a number.

The horizontal axis represents time, with the most recent data on the right. An upward thrusting bar means that more trading has taken place at the ‘asks’ than at the ‘bids’. While it’s safe to call this net buying, it does not always mean prices are being driven up. (Sometimes the ask prices hold firm and prices go nowhere.) Likewise a downward thrusting bar means that more trading has taken place at the ‘bids’ than at the ‘asks’ – i.e. net selling.

It is important to understand that, since this is cumulative indicator, buying is taking place when the “envelope” – the outer contour of the graph – is moving upward, and selling is taking place when the “envelope” is moving downward. In a sense, the envelope is more important than the “body” of the graph. For example, from the illustration we can see that there has been net buying for the past 25 minutes or so (that’s what the body tells us, by being above zero that whole time). However, the downward-sloping envelope at the right indicates that investors are currently selling.

The NDX Money Flow can be displayed in tabular format as well, by putting a symbol like $NDXFLO(n) in the Quotes Display, where n represents the number of minutes (from 1 – 60). For instance, $NDXFLO(10) will show the cumulative NDX Money Flow for the past 10 minutes.

NDX Money Flow works with AT Financial, eSignal, and Hyperfeed, and depends on the Quotes Display being open and receiving continuous data. If data reception is interrupted for any reason, this may impact the accuracy of the NDX Money Flow indicator. However, brief interruptions, such as stopping and re-starting the OptionVue 5 program, might not have a significant effect.

2. Also for users of real-time streaming quotes, new incremental volume indicators are available. For instance, you may enter a symbol such as $UVOL(30) in the Quotes Display to see how much the $UVOL (up-volume on the NYSE) has changed in the past 30 minutes. The number in parenthesis represents the number of minutes, and you may enter any number from 1 to 60. Only six volume indicators -- $UVOL, $DVOL, $TVOL, $UVOLQ, $DVOLQ, $TVOLQ – are accommodated at this time.

As with NDX Money Flow, the interruption of data reception may impact the accuracy of these new indicators. However, brief interruptions, such as stopping and re-starting the OptionVue 5 program, might not have a significant effect.

2. The Yates Break Search was enhanced with the addition of a second search algorithm. This algorithm looks for stocks breaking down through an automatically fitted up-trend-line, and can be useful for catching a stock’s very first breakdown after an uptrend.

The original search algorithm, which looks for stocks that have experienced a sharp sell-off, followed by a partial recovery and then the start of another down-turn, is still available. However, users now have the option of indicating they only the program to list stocks that have experienced an uptrend over the past several months. (The thinking here is that perhaps breakdowns off an uptrend are more reliable.)

In the illustration you can see three new checkboxes at the bottom. The first check-box allows you to say whether to use the original search algorithm. The second box is to restrict that algorithm to listing only stocks that are topping out (i.e. have had a prior run-up). The final box is to say whether to use the new trend-line break search algorithm. If you check both the first and last boxes, the program will list all stocks qualifying under either search algorithm.

Note: Before the program can consider a stock in either of the Yates Break Search algorithms there has to be at least 180 days (eight months worth) of historical price data in that stock’s price history file. Also, in order for the program to draw a Trend line in the Price Chart there has to be at least 154 days (seven months worth) of historical price data in that stock’s price history file.

3. OptionVue 5 now interfaces with BullSignal, an Australian data feed. With no Australian issues in the BDB at this time, Australian users must create asset files from scratch. It is important to place the suffix “-AU” on the underlying’s symbol, both in the Matrix and in the Quotes Display. For options symbols, users should place a relatively current copy of OptList.csv (available from the Australian exchange) in OptionVue’s background folder (usually C:\OpVue5\Bkgnd). OptionVue will automatically find the file and read it – filling in correct option symbols.

4. When OptionVue offers the user a chance to obtain an upgrade and the user declines, the program notes a future date when it will offer him another chance (according to the user’s choice: one week from now, etc.). Until now, there was no way of overriding this and getting the program to offer another chance immediately. Now, by doing a File | Register Program operation, the program will immediately offer another chance to upgrade.