Get started
NeoButane

FTX Index Advance Decline Line

NeoButane  
Candlestick Analysis ADL index basket cryptoindex neobutane FTX
58
1
candlestick adl index basket cryptoindex neobutane ftx
As of publishing, all the tickers from FTX with the word "index" in it, plus bitcoin.

This is your regular ADL except instead of hundreds in the basket you've got them condensed into 7 (for now) and in open/close candle form instead of a line.

I'm a bit disappointed because I thought I'd lever more utility from indexes. It may just need some tweaking.

Doesn't it look like Renko?


Some notes:


Reason why it expands:

Total number of constituents is a static 7, to fix that use time to change the total variable based on dates of introduction.
snapshot

Reallly looks like Renko:
snapshot

Renko with ATR, length 14, hourly chart.
snapshot
My published indicators: www.tradingview.com/u/NeoButane/

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?