OPEN-SOURCE SCRIPT

NYSE & NASDAQ Advance Minus Decline Oscillator

Updated

This indicator is meant to observe NYSE & NASDAQ Advance minus Decline Oscillator in one. It also paints extreme levels at +2000 and -2000. It is used in combination to identify changes across the two markets or to observe broad market strength/weakness.

Release Notes

Removed Upper (2000) and Lower (-2000) lines from view. Defeats the purpose of the gradient fill, which displays the extreme levels already. Also adjusted NASDAQ color from blue to purple. I like purple.

Release Notes

Removed irrelevant values from indicator status line.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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