Intelligent Charts

Stretch Indicator -- Stocks can often move from one extreme to another in a very short period of time. Set timeframe indicators like Stochastics, RSI, relative strength and others do not make a good representation of how far up or down a move has gone. 

The stretch indicator simply finds a recent peak or trough and then shows you just how far that move has gone in relation to other moves. If the stretch indicator has moved a significant amount, a counter-trend rally could be coming. It's like stretching a rubber band and having it snap back. However, if a large "stretch" is not followed by a large snap-back, then the move is likely not over..

The blue line on top is for up moves, while the red line is for down moves. The top dashed line shows the median up move, while the bottom dashed line shows the median down move.