Advance-Decl Line

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Advance-Decl Line

The Advance-Decl Line indicator calculates the difference between advancing issues and declining issues and plots the cumulative total of this value for the chart. The difference between advancing issues and declining issues is known as market breadth. For example, if a stock market index is rallying but there are more issues declining than advancing, then the rally is narrow and much of the stock market is not participating. To plot the Advance-Decline Line accurately, the chart must contain both the Advancing Issues and the Declining Issues and the inputs must specify the correct data number for each. Because the Advance-Decline Line begins accumulating values from the left of the chart, the numeric value of the Advance-Decline Line will depend on the data available in the chart. Therefore, the relative value, or trend direction, of the Advance-Decline Line is more important than its numeric value.

Default Inputs

AdvIssues( Close of data1 ) sets the data series where Advancing Issues instrument is used

DecIssues( Close of data2 ) sets the data series where Declining Issues instrument is used

Note: This indicator requires two data series to be used in a single chart. For correct calculation, data1 should contain the data for Advancing Issues and data2 should contain the data for Declining Issues. Please check if your data source provides this kind of data.