[pcabc]

My immediate takeaway from it is that when the % stocks with a Mansfield Relative Strength above the zero line (orange and blue combined) is above the 50% level. i.e. there's more stocks outperforming the index, then it's a period to be more aggressive on the long side, and then when the orange level starts to drop below the 50% level, then it signals to start being less aggressive, i.e.trim laggards, but hold leaders.

Good point. If I had a large format colour printer (I don't) just pinning the charts to the wall leaving them there for a week or two might give new insight.

Orange and Blue combined would be a sum of stocks above the zero line and stocks with a rising zero line? Perhaps a recalculation based on a score of +1 for RS above the zero line and zero line rising, -1 for RS below the zero line and zero line falling? But I'd have to recalculate, which takes a long time.

I agree, orange line falling below 50% is a warning. Orange line on its own rising above 50% is a bit slow, and combining that with the blue one (RS zero rising) would delay it further. Trouble is, only limited data, so perhaps I'm plotting an anomaly here?

But it is an interesting breadth study. Well done. Definitely worth further investigation. But you might need to compare against more than just the S&P 500, even if just against the equal weight version instead, as the breadth decline correlates strongly with the broader market weakness during 2021 that was clear in NYSE and especially the Russell 2000 for example.

Swapping the index is easy. I'll change the index to the S&P Small cap 600 later. Don't seem to have the Russell 2000 available, except for a UK ETF which may have currency exchange rates overlaid - confusing the picture.

Not what you suggested, but swapping the underlying breadth pool is slower. It was about 2 1/2 mins per point for these latest calcs. My computer started to swap memory much more, so my plan to see if I can load all of the stocks in breadth pool to allow for MUCH faster historical breath calculations is probably a non-starter. I can try loading the data to see if it is feasible fairly quickly though.