OPEN-SOURCE SCRIPT
Updated NYSE_ADVANCE_DECLINE_VOL vs SPY
This script plot a NYSE ADVANCING DECLINING VOLUME LINE on a WMA histogram of SPY. Very new at coding pine script, so use at your own risk
Release Notes
I've added a condition to draw a cross when SPX put volume is greater than 500000. This extreme volume level may indicate a squeeze or a bottom is close.Release Notes
Only changed the version number because I wanted to load a more clean chart.Release Notes
Went over and tidied my code. Added a title to the put signal, changed the 30 hline to 20, and reduced the line width on the SPY histogram Release Notes
Added the ability to change spy length and adv length separately. I tried some different smoothing on the advance/decline line but didn't like the results. Corrected changing the version number, it's now version 4.Release Notes
I added a condition to plot a cross at the bottom when SPX call volume is greater than 350000, also changed the hline levels to Fibonacci numbers.Release Notes
You can now choose different index and ticker symbols from settings.Release Notes
You can now change min max multiplier in settings.
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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