HPotter

Advance/Decline Volume Line

The Advancing-Declining Volume Line ( AD Volume Line ) is a breadth indicator
based on Net Advancing Volume , which is the volume of advancing stocks less
the volume of declining stocks. Net Advancing Volume is positive when advancing
volume exceeds declining volume and negative when declining volume exceeds
advancing volume . The AD Volume Line is a cumulative measure of Net Advancing
Volume . It rises when Net Advancing Volume is positive and falls when Net
Advancing Volume is negative. Chartists plot the AD Volume Line for a specific
index and compare it to the performance of that index. The AD Volume Line should
confirm an advance or a decline with similar movements. Bullish or bearish
divergences in the AD Volume Line signal a change in buying or selling pressure
that could foreshadow a reversal in the index.
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.

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Comments

Great Job Friend ....How to use it for NSE , Indian stock exchange ...specially for Banknifty....
+5 Reply
When I hang this on different charts (one on SPY, one on TWTR, for example) I get different results. As far as I understand, they should be the same, as data is coming from the same source. Also, the results (sometimes) change dramatically, when I refresh my page, then change back when I refresh again. Any idea what's going on?
+3 Reply
Thanks for this. Would it be possible to make it green when positive, red when negative?
Reply
How can I get this to work with cryptocurrencies?
Reply
HPotter jjbb11
@jjbb11, Add to favorites and hang on the chart.
+6 Reply
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