Net Monthly High-Lows is derived by subtracting the total number of stocks that made new Monthly highs and total number of stocks that made new monthly lows. When the value is positive, it indicates that stocks forming new highs are more than the stocks making new lows; thus indicating that the market is strong. Similarly if the value is negative, it indicates that stocks forming new lows are more than the stocks making new highs; thus indicating that the market is weak.

Net Monthly New High-Low = No. of stocks making New Monthly Highs – No. of stocks making New Monthly Lows