BANK NIFTY Advance Decline

Nov 19
Release Notes: Bank Nifty weightage based Advance and Decline Line

Green Line: Positive Weightage

Red Line: Negative Weightage

Eg: If Green Line is above the Red Line, then the underlying stocks of Bank Nifty are positive - That means you can stay in Buy Direction.
Jan 16
Release Notes: Logic Updated in accordance with IDFC Bank and Capital First merger
Remove from Favorite Scripts Add to Favorite Scripts


Hi grant me access
How to read and understand your indicator?
@paithaned, Its a weightage based indicator, the redline is the negative weightage and greenline positive weightage
ex: HDFCBANK has 36.6% weight in bank nifty and ICICI 15%, Kotak 14%, etc.. so I have taken the weightage in to consideration to build the advance and decline based on the underlying assets of bank nifty. generally Advance and Decline, is just an indicator that shows the actual difference b/w number of stocks that are moving up/down. so in this case my approach was different to the original one.
fyi.. this is not an price action indicator, its purely based on the movement of underlying assets.

we have another set of sophisticated indicators which tells about the Volume change in the underlying assets. but those are premium. so please let me know if you are interested to test them, I can give access for free(15 days)
+3 Reply
paithaned Tradepro_MoneyFlow
@Tradepro_MoneyFlow, yes please .. would like to try and also the other indicators you are talking about...thanks
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out