based on Net Advancing , which is the of advancing stocks less
the of declining stocks. Net Advancing is positive when advancing
exceeds declining and negative when declining exceeds
advancing . The is a cumulative measure of Net Advancing
. It rises when Net Advancing is positive and falls when Net
Advancing is negative. Chartists plot the for a specific
index and compare it to the performance of that index. The should
confirm an advance or a decline with similar movements. or
divergences in the signal a change in buying or selling pressure
that could foreshadow a reversal in the index.
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.
USDT (TRC20): TH29EEXa19vfwZNYvxdUuMxoFY5QDYLcWG