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On Wed, 26 Nov 1997 11:16:10 -0500 (EST) Proffittak@xxxxxxx writes:
>can you write a t.s code for this??
>
The "Advance Decline Divergence Oscillator" was designed by Arthur
Merrill of Merrill Analysis. It is described in the book "The
Encyclopedia of Technical Market Indicators" by Colby and Meyers. This
indicator can be constructed in Excel. I do not think it can be done in
TS. (I believe this is a proprietary property of Merrill Analysis so I do
not want to get into more details then referring people to the Colby and
Meyers book as a reference). There are some other ideas that can be put
into TS for AD line analysis that I can safely share:
I use telescan data for the AD Line computations. The symbol is "ISSU"
The "high" equals the number of advancing issues and the "low" equals the
number of declining issues.
The Advance Decline Line is calculated as follows:
Plot1 CUM(H - L)
The relative strength of the AD line to the NYA (or you can substitute
the DJIA, SPX, OEX, ect.) is calculated as follows:
InputName X
InputValue 20
Plot1 = 100 / (RSI(CUM(Log(H of DATA2) - Log(L of DATA2)), X) /
RSI(CUM(Log(C of DATA1) - Log(C[1] of DATA1)), X))
DATA1 = NYA
DATA2 = ISSU
You can probably leave out the "Log" function and the formula should
still work.
Good Luck
Ron McEwan
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