OPEN-SOURCE SCRIPT
NYSE Advance/Decline Line 1.0
Updated
NYSE Advance/Decline Line is a Market Breath indicator.
Brought to you by IQ-trading (Andrei Bogdan) via Trading View Pine script. If you find this helpful in anyway, please leave a like!
A/D line calculates a ratio between total number of NYSE stocks advancing and total number of NYSE stocks declining in one day, providing another way to grasp the market breath at any moment.
Green columns mean more than 50% of NYSE stocks are advancing, red columns mean more than 50% of NYSE stocks are declining.
Green values above the top band mean correlation to the upside, red values bellow the low band mean correlation to the downside.
Correlation means rising probability of capitulation (to the upside or to the downside).
For a better interpretation, NYSE Advance/Decline Line should be used in conjunction with other indicators (volatility, volume, etc.).
Brought to you by IQ-trading (Andrei Bogdan) via Trading View Pine script. If you find this helpful in anyway, please leave a like!
A/D line calculates a ratio between total number of NYSE stocks advancing and total number of NYSE stocks declining in one day, providing another way to grasp the market breath at any moment.
Green columns mean more than 50% of NYSE stocks are advancing, red columns mean more than 50% of NYSE stocks are declining.
Green values above the top band mean correlation to the upside, red values bellow the low band mean correlation to the downside.
Correlation means rising probability of capitulation (to the upside or to the downside).
For a better interpretation, NYSE Advance/Decline Line should be used in conjunction with other indicators (volatility, volume, etc.).
Release Notes
NYSE Advance/Decline Line is a Market Breath indicator.Brought to you by IQ-trading (Andrei Bogdan) via Trading View Pine script. If you find this helpful in anyway, please leave a like!
A/D line calculates a ratio between total number of NYSE stocks advancing and total number of NYSE stocks in one day, providing another way to grasp the market breath at any moment
Green columns mean more than 50% of NYSE stocks are advancing, red columns mean more than 50% of NYSE stocks are declining.
Green values above the top band mean correlation to the upside, red values bellow the low band mean correlation to the downside.
Correlation means rising probability of capitulation (to the upside or to the downside).
For a better interpretation, NYSE Advance/Decline Line should be used in conjunction with other indicators (volatility, volume, etc.).
Open-source script
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