Absolute Breadth Index - ABI
A market indicator used to determine volatility levels in the market without factoring in price direction. It is calculated by taking the absolute value of the difference between the number of advancing issues and the number of declining issues. Typically, large numbers suggest volatility is increasing which is likely to cause significant changes in stock prices in the coming weeks.
Investopedia Says:
This tool is classified as a breadth indicator because the number of advancing/declining values are the only values used to create it. This index can be calculated using any exchange, or a subset of an exchange, but traditionally the NYSE has been the accepted standard.
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It's time to acquaint yourself with these lesser-known yet effective technical indicators. Discovering the Absolute-Breadth Index and the Ulcer Index
Discover the indicators that measure the force of the bulls and bears, telling you what a simple price chart cannot. Market Breadth: A Directory Of Internal Indicators
Developed in 1967 by Richard Arms, this volume-based breadth indicator can be applied over various time periods. Introduction to the Arms Index
