Referred to as a market momentum indicator, the absolute breadth index (ABI) is equal to the absolute value of the difference between the advancing issues and the declining issues. It shows how much activity and volatility and change is taking place on the NYSE while ignoring the direction prices are going. It shows only market activity.
Developed by Norman G. Fosback
AdvIssues( Close of data1 ) sets the data series where Advancing Issues instrument is inserted
DecIssues( Close of data2 ) sets the data series where Declining Issues instrument is inserted