The Bullish Percent Index (BPI) is a breadth indicator based on the number of stocks on Point & Figure Buy Signals within an index. Developed by Abe Cohen in the mid-1950s, the Bullish Percent Index was originally applied to NYSE stocks. Cohen was the first editor of ChartCraft, which later became Investors Intelligence. BPI signals were further refined by Earl Blumenthal in the mid 70's and Mike Burke in the early 80's. Because a stock is either on a P&F Buy or Sell Signal, there is no ambiguity when it comes to P&F charts. This makes BPI a straightforward indicator with clearly defined signals.
Edited by Swiss Trader, 04 August 2017 - 02:46 AM.