OPEN-SOURCE SCRIPT
HODL5 Market Cap Advance Decline Line
The Advance-Decline Line (AD Line) is a breadth indicator based on Net Advances, which is the number of advancing stocks less the number of declining stocks. Net Advances is positive when advances exceed declines and negative when declines exceed advances. The AD Line is a cumulative measure of Net Advances. While the shape of the AD Line is important, the actual value holds no meaning.
This is a rerelease to open source the code. This, to an extent, emulates what Amun's index achieves. What it lacks is weighting per coin.
With the newest version of Pine Script, it may be possible to draw diagonals on the line, making it easier to identify trend.
stockcharts.com/school/doku.php?id=chart_school:market_indicators:ad_line
amun.com/en/index/
This is a rerelease to open source the code. This, to an extent, emulates what Amun's index achieves. What it lacks is weighting per coin.
With the newest version of Pine Script, it may be possible to draw diagonals on the line, making it easier to identify trend.
stockcharts.com/school/doku.php?id=chart_school:market_indicators:ad_line
amun.com/en/index/
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.