What is CYQ?

CYQ is a dynamic version of the PBV indicator (Price By Volume). PBV combines both price and volume into one tool and plots horizontal volume bars onto the chart at price intervals. The length of each bar is determined by the cumulative total of all volume for which the closing price fell within the price interval.

In PBV charts, the volume bar length will never be decreased even if the stock has been trading above or below the bar for long time. From this point of view, PBV is a static indicator. CYQ, on the other hand, takes account of the fact that the cumulative volume in each price interval will be consumed when the stock is not trading in their price ranges. CYQ uses an emulation algorithm to estimate the volume to be taken off in each volume bar. The estimation may not always be precise. With the time, however, it gives a relatively accurate picture of the cost structure of the stock. CYQ is thus also referred to as the dynamic cost chart.

CYQ is a very useful indicator. Like PBV, CYQ can be used to identify crowded trading areas and the related support, resistance levels. In addition to this, big institutional positions can not hide in the CYQ chart. CYQ can be used to estimate average holding cost of big investors' positions. The animated CYQ can even show how the cost structure is changing.

 

What follows are the CYQ label you often see in the CYQ chart and the explanation of the label.

CYQ(60) indicates that the CYQ chart is consisting of 60 horizontal volume bars. The more volume bars we use, the more precise and slower the chart will be. We have tested many other numbers and believe that 60 is suitable for most of users. This number is currently not configurable.

(5.5B) is the capital, the number of shares held by the public and available for trading (often referred to as shares float). This is different from the number of shares outstanding. 5.5B stands for 5.5 billion shares.

CYQ is calculated based on capital. Unfortunately, this number is not always available for all stocks. This is also why for some stocks there is no CYQ chart.

Ideally, CYQ would be calculated from the stock inception date. This is, however, sometimes neither possible nor necessary. Whenever possible, Tecstock calculates CYQ at least from the date earlier than the current date 2 years ago.

93.06% is the percentage of the cumulative total from capital, i.e., the total cumulative volume in the CYQ chart is 5.5B * 93.06% = 5.12B. For active stocks with small capitals this number is often 100%.

Cost(50):21.01 shows that cost(50) = 21.01. It is useful to know the price of cost(50) as it can help figure out approximately how expansive or cheap the current price is.

Winner:87.2% means that 87.2% of the volume in the CYQ chart were trading under the last close price displayed in the chart. In other words, owners of 87.2% of the shares displayed in the CYQ chart are winners.