Advance-Decline Indicator

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AdvDecAvg.efs  EFSLibrary - Discussion Board
  

File Name: AdvDecAvg.efs


Description:
Advance-Decline Indicator


Formula Parameters:
Length : 10
BuyBand : -1500
SellBand : 1500
Symbol : $ADD

Notes:
The Advance-Decline Indicator is a market breadth indicator
based on the smoothed difference between advancing and declining issues.
The indicator shows when the stock market is overbought (and a correction
is due) and when it is oversold (and a rally is due).
The Advance-Decline Indicator is a 10-period exponential moving average of
the difference between the number of advancing and declining issues:


Download File:
AdvDecAvg.efs




EFS Code:






/*********************************Provided By:      eSignal (Copyright c eSignal), a division of Interactive Data     Corporation. 2009. All rights reserved. This sample eSignal     Formula Script (EFS) is for educational purposes only and may be     modified and saved under a new file name.  eSignal is not responsible    for the functionality once modified.  eSignal reserves the right     to modify and overwrite this EFS file with each new release.Description:            Advance-Decline Indicator      Version:            1.0  04/22/2009    Formula Parameters:                     Default:    Length                              10    BuyBand                             -1500    SellBand                            1500    Symbol                              $ADD    Notes:    The Advance-Decline Indicator is a market breadth indicator     based on the smoothed difference between advancing and declining issues.    The indicator shows when the stock market is overbought (and a correction     is due) and when it is oversold (and a rally is due).    The Advance-Decline Indicator is a 10-period exponential moving average of     the difference between the number of advancing and declining issues:**********************************/var fpArray = new Array();var bInit = false;function preMain() {    setStudyTitle("Advance-Decline Indicator");    setCursorLabelName("Advance-Decline", 0);    setDefaultBarFgColor(Color.red, 0);        setPriceStudy(false);    setStudyMax(2000);    setStudyMin(-2000);    var x = 0;    fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER);    with(fpArray[x++]) {        setLowerLimit(1);        setDefault(10);    }    fpArray[x] = new FunctionParameter("BuyBand", FunctionParameter.NUMBER);    with(fpArray[x++]) {        setLowerLimit(-2000);        setDefault(-1500);    }    fpArray[x] = new FunctionParameter("SellBand", FunctionParameter.NUMBER);    with(fpArray[x++]) {        setLowerLimit(-2000);        setDefault(1500);    }    fpArray[x] = new FunctionParameter("Symbol", FunctionParameter.STRING);    with(fpArray[x++]) {        addOption("$ADDQ");        addOption("$ADD");        setDefault("$ADD");    }   }var xOvbOvs = null;function main(Length, Symbol, BuyBand, SellBand) {var nBarState = getBarState();var nOvbOvs = 0;    if (nBarState == BARSTATE_ALLBARS) {        if (Length == null) Length = 10;        if (BuyBand == null) BuyBand = -1500;        if (SellBand == null) SellBand = 1500;                if (Symbol == null) Symbol = "$ADD";    }    if (bInit == false) {        addBand(BuyBand, PS_SOLID, 1, Color.blue, "Buy");        addBand(SellBand, PS_SOLID, 1, Color.blue, "Sell");                xOvbOvs = ema(Length, sym(Symbol));        bInit = true;    }    nOvbOvs = xOvbOvs.getValue(0);    if (nOvbOvs == null) return;    if (nOvbOvs > SellBand) {        setBarBgColor(Color.green);    }    if (nOvbOvs < BuyBand) {        setBarBgColor(Color.red);    }        return nOvbOvs;}