by 
Asymmetrical RSI is an indicator that computes a custom relative strength index from the rate of change of a user-selected source. It plots the resulting ARSI line in a separate pane with color coding that turns green above the overbought level and red below t
Indicator · Pine Script v5 · Own pane
Advance Decline Ratio
This indicator calculates and plots the ratio of advancing stocks to declining stocks on the New York Stock Exchange.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code4
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
4 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/Advance-Decline-Ratio.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title = "Advance Decline Ratio", shorttitle="ADR", format=format.price, precision=2)
ratio(t1, t2, source) => request.security(t1, timeframe.period, source) / request.security(t2, timeframe.period, source)
plot(ratio("USI:ADVN.NY", "USI:DECL.NY", close))
Overview
Advance Decline Ratio requests close prices from the USI:ADVN.NY and USI:DECL.NY ticker symbols using the security function and divides advances by declines. The script draws a single ratio line in a separate indicator pane to help analyze broader market breadth.
- Market breadth ratio calculation
- NYSE advancing and declining stock data request
- Separate pane ratio plot
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum
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.
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