The Advance-Decline Indicator is a market breadth indicator
based on the smoothed difference between advancing and declining issues.
The indicator shows when the stock market is overbought (and a correction
is due) and when it is oversold (and a rally is due).
The Advance-Decline Indicator is a 10-period exponential moving average of
the difference between the number of advancing and declining issues.
based on the smoothed difference between advancing and declining issues.
The indicator shows when the stock market is overbought (and a correction
is due) and when it is oversold (and a rally is due).
The Advance-Decline Indicator is a 10-period exponential moving average of
the difference between the number of advancing and declining issues.
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 08/09/2014 // The Advance-Decline Indicator is a market breadth indicator // based on the smoothed difference between advancing and declining issues. // The indicator shows when the stock market is overbought (and a correction // is due) and when it is oversold (and a rally is due). // The Advance-Decline Indicator is a 10-period exponential moving average of // the difference between the number of advancing and declining issues. //////////////////////////////////////////////////////////// study(title="Advance-Decline Indicator") Length = input(10, minval=1) BuyBand = input(-1500) SellBand = input(1500, minval=1) hline(SellBand, color=red, linestyle=line) hline(BuyBand, color=green, linestyle=line) xOvbOvs = ema(close, Length) clr = iff(high > SellBand, red, iff(low < BuyBand, green, blue)) plot(xOvbOvs, color = clr, style = histogram, linewidth = 2, title="Advance-Decline Indicator")