OPEN-SOURCE SCRIPT
Advance-Decline Line
Advance-Decline Line — Market Breadth Indicator
The NYSE Advance-Decline Line measures the internal health of the broad market by tracking how many stocks are actually participating in any given move — not just the mega-caps driving the index.
Every session the NYSE reports how many stocks closed up (advances) vs. down (declines). This indicator plots the raw daily difference as a histogram and applies two EMAs to identify the underlying breadth trend, cutting through daily noise to reveal the true market regime.
Why price alone isn't enough
The S&P 500 is market-cap weighted. Apple, Microsoft, and Nvidia can hold the index up while the other 490 stocks quietly deteriorate. The A/D Line weights every stock equally — exposing that divergence immediately. The classic example: the NYSE A/D Line peaked nearly two years before the Nasdaq crashed in 2000, giving attentive traders ample warning.
Background color — the regime signal
🟢 Green — Fast EMA > Slow EMA AND Slow EMA > 0. Broad market breadth is healthy. Favorable conditions for long positions.
🟠 Orange — Mixed signals. One condition is met but not both. Breadth is transitioning — proceed with caution.
🔴 Red — Fast EMA < Slow EMA AND Slow EMA < 0. Breadth is weak across most stocks. Historically, breakouts fail at a much higher rate in this regime.
Histogram bars
Each bar shows the raw daily breadth pulse — teal when more stocks advanced, red when more declined. Individual bars provide context; the background color reflects the dominant trend via the two EMAs.
Settings
Fast EMA (default 50)
Slow EMA (default 200) — moves slowly, only reverses during genuine regime shifts
Alerts
Breadth Turning Bullish — Fast EMA crossed above Slow EMA
Breadth Turning Bearish — Fast EMA crossed below Slow EMA
Slow EMA Above Zero — breadth trend fully positive
Slow EMA Below Zero — breadth trend fully negative
The NYSE Advance-Decline Line measures the internal health of the broad market by tracking how many stocks are actually participating in any given move — not just the mega-caps driving the index.
Every session the NYSE reports how many stocks closed up (advances) vs. down (declines). This indicator plots the raw daily difference as a histogram and applies two EMAs to identify the underlying breadth trend, cutting through daily noise to reveal the true market regime.
Why price alone isn't enough
The S&P 500 is market-cap weighted. Apple, Microsoft, and Nvidia can hold the index up while the other 490 stocks quietly deteriorate. The A/D Line weights every stock equally — exposing that divergence immediately. The classic example: the NYSE A/D Line peaked nearly two years before the Nasdaq crashed in 2000, giving attentive traders ample warning.
Background color — the regime signal
🟢 Green — Fast EMA > Slow EMA AND Slow EMA > 0. Broad market breadth is healthy. Favorable conditions for long positions.
🟠 Orange — Mixed signals. One condition is met but not both. Breadth is transitioning — proceed with caution.
🔴 Red — Fast EMA < Slow EMA AND Slow EMA < 0. Breadth is weak across most stocks. Historically, breakouts fail at a much higher rate in this regime.
Histogram bars
Each bar shows the raw daily breadth pulse — teal when more stocks advanced, red when more declined. Individual bars provide context; the background color reflects the dominant trend via the two EMAs.
Settings
Fast EMA (default 50)
Slow EMA (default 200) — moves slowly, only reverses during genuine regime shifts
Alerts
Breadth Turning Bullish — Fast EMA crossed above Slow EMA
Breadth Turning Bearish — Fast EMA crossed below Slow EMA
Slow EMA Above Zero — breadth trend fully positive
Slow EMA Below Zero — breadth trend fully negative
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.