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The Open ARMS Index, also called Open-10 TRIN or Open Trading Index, is a smoothed version of the Arms Index.
This market breadth indicator uses the advancing/declining issues and the advancing/declining volume to measure the strength of the market.
The Open-10 TRIN is created by the composite plug-in and its formula consists of dividing the smoothed variation of the advance decline ratio by the smoothed variation of the advance decline volume. The smoothed version of the A/D ratio is simply the division of the 10-bar simple moving average of the number of advancing issues by the 10-bar SMA of the number of declining issues.
The interpretation Open ARMS Index is the same as the interpretation of the TRIN or Arms Index. The market is considered bullish when the technical analysis indicator value closes above 0.9 and it is considered bearish when the indicator value drops below 0.9.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
