1) NIFTY Index Advance-Decline count 2) Each session, it reads the number of stock are +Ve or -Ve 3) Whichever the side +Ve or -Ve side moving stock is more than count will be plotted 4) at +/- 25 drawn a dotted line if Count is > = +/-25 Nifty is moving in a strong army
Eg:-
in the current session, 30 Stock is moving in +Ve direction & 10 are in -Ve direction 30 count will be plotted in the chart
This is Advance Decline Line Indicator for US market, can you please suggest modification for INDIAN market ( CNX500 ) , it will be great help. I tried using symbols like nse, cnx500, nifty in there, but it giving error. Please help Thank You
It gives wrong count, today 22/06/22, 44 stocks in decline in nifty 50 but the result shows 35. So program may be modified with list of companies present now in nifty 50.
SharemarketRaja
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@susantarya.sg, the Trading view will not allow adding more than 40 scripts so i added only top 40 according to its weightage, this indicator purpose which I designed to use at a lower time frame with other my index weightage indicators to see high weighted stocks moving direction so that it will add extra confirmation to my other setups near support, resistance gaps how overall market is moving
mermitesh23
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hi would like to see this as advance and decline line , is it possible