danarm

ADVN-DECL

Advancing - Declining issues indicator which you can use for Bitcoin trading if you, like me, believe that cryptocurrency is highly correlated with the activity on the stock exchanges (yes, the PROs are here, we just didn't know it yet)

This indicator is based on showing the data, as much as possible, as it is, and not messing it up by calculating stuff. Calculation should be used to better understand what the data represents, and not to show beatiful things which are, in fact, not present.

You could, for example, take ADVN and DECL , calculate rma() moving averages and make a RSI out of it. The result is very interesting when applied on the daily time frame, but not as useful for trading.

By the way, I recommend enabling this option:

Right click - Settings - Timezones / Sessions
Please check "Extended hours (Intraday Only)"

I could do it in code with the ticker() function, but I'm under the impression that then, free TV users would not be able to use the indicator.
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.

Want to use this script on a chart?

Comments

Hi,
where can I find the ADVN.NQ similar values for other index?

I am trading in Indian index Nifty and looking for the same.

Can you pls guide me.
+2 Reply
Great work. thank you.
Reply
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