by 
This indicator plots the Schaff Trend Cycle in a separate pane. It subtracts a slow exponential moving average from a fast one, applies a stochastic cycle twice, and smooths each result to form a 0–100 oscillator. Line color follows the slope, or the upper and
Indicator · Pine Script v5 · Own pane
Advance Decline Line
This indicator plots an Advance Decline Line in a separate pane.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code5
Settings0inputs
LicenceMIT
Last update3 years ago10 Feb 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
5 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Advance-Decline-Line.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title = "Advance Decline Line", shorttitle="ADL", format=format.price, precision=2)
adlCalc(difference) => ta.cum(difference > 0 ? math.sqrt(difference) : -math.sqrt(-difference))
adl = request.security("(USI:ADVN.NY - USI:DECL.NY) / (USI:UNCH.NY + 1)", timeframe.period, adlCalc(close))
plot(adl, "Advance Decline Line")
Overview
Advance Decline Line requests a combined NYSE series of advancing issues minus declining issues, divided by unchanged issues plus one. A cumulative function adds the square root of a positive difference and subtracts the square root of a negative difference. There are no user inputs, alerts, or trade signals. It is a breadth line for the listed US market symbols rather than a price overlay.
- Cumulative square-root scaled net advances
- NYSE advancing, declining and unchanged issues
- Separate-pane line plot
- Same-timeframe security request
- No user inputs or trade signals
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum, Trend
Markets
Stocks, Indices
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
Similar Pine Scripts
This indicator calculates a modified MACD oscillator and signal line alongside a trend EMA filter, plotting the output as a stylized column histogram in a separate pane. Instead of plotting true MACD distance, it quantifies positive and negative histogram mome
This indicator plots the Average Directional Index in a separate pane and colors the line teal or maroon according to whether plus DI is above minus DI. A horizontal key level and a silver background mark periods when ADX exceeds that threshold. With labels en
Standardized Trend Map calculates series momentum relative to active price range across 40 distinct lookback periods ranging from 2 to 80 bars on an exponential moving average source. Each standardized calculation rounds to an integer values of -1, 0, or 1 to
This indicator calculates and displays the Average Directional Index (ADX) as a column histogram in a separate pane. It evaluates market trend strength by calculating directional movement metrics based on specified smoothing and DI length inputs. When the ADX
Multi-Timeframe Analysis Suite calculates trend direction and momentum conditions across five user-selected timeframes using moving averages, RSI, and Stochastic oscillators. It evaluates moving average slope and oscillator levels to compute trend alignment, m
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers