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If you google the term “NYSE Advance-Decline”, you will see many many informative articles by various professional traders and analysts, all agreeing that NYSE Advance-Decline is one of the best indicators ever to predict the market. This 6-page comprehensive article explains the super power of the indicator: One Indicator Stock Traders Must Follow.
NYSE Advance-Decline by ninZa.co supports 3 plot types for you to choose. Each of them is interpreted and used in a different way.
- Advance-decline spread: This version charts the difference between the number of advancing stocks and declining stocks on NYSE. A positive value means that more stocks are advancing than declining and vice versa. It can be interpreted like any oscillator with overbought and oversold levels.
- Cumulative advance-decline: This is the most popular version in the family of advance-decline indicators. As the name suggests, the indicator accumulates advance-decline spreads over bars. It is a simple but very effective measure of the number of stocks responsible for a rally or a sell-off.
- Advance-decline ratio: This version plots the advance-to-decline ratio, which divides the number of advancing stocks by the number of declining stocks on NYSE. For example, a value of 2 means there are twice as many stocks advancing as declining, while a value below 1 means more stocks are declining than advancing.
A moving average can be applied to the NYSE Advance-Decline plot. You may freely choose among 9 popular types: SMA, EMA, WMA, HMA, TMA, TEMA, DEMA, VWMA, ZLEMA.
Pro Colorizer, the state-of-the-art colorizing technique of ninZa.co, is also incorporated in this indicator. The robust feature helps you efficiently paint plots and/or bars with gradient colors for easy identification and filtration of market movements.
Here are important notes about the use of this indicator:
- You must have a data feed for 2 symbols ^ADV and ^DECL in order to run this indicator.
- The indicator is most meaningful and powerful on a DAILY chart.
- If you apply the indicator to other charts (minute, tick, range…), you will observe intervals when the indicator plot stays unchanged. That’s when NYSE is “sleeping”.
- Cumulative advance-decline plot should be colorized with by-change method.
- Advance-decline spread plot and advance-decline ratio plot should be colorized with by-level method.
Please read Installation Guide for details.
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