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How to code Advance-Decline Line for Metastock? - How to code Advance-Decline Line for Metastock?
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oem7110  
#1 Posted : Monday, October 21, 2013 9:26:23 AM(UTC)
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Does anyone have any suggestions on how to code Advance-Decline Line for Metastock?

Thanks in advance for any suggestions :>
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John S  
#2 Posted : Tuesday, October 22, 2013 8:18:45 AM(UTC)
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If you have the end of day version of MetaStock, then this comes pre-installed as a custom indicator (along with many other breadth indicators). However, it is not possible with MetaStock Pro since the XENITH datafeed does not provide breadth data in a format MetaStock can handle.

Thanks.
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oem7110  
#3 Posted : Tuesday, October 22, 2013 9:42:23 AM(UTC)
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Do you know how Advance-Decline Line works as breadth indicators?

Thank you very much for any suggestions :>
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John S  
#4 Posted : Tuesday, October 22, 2013 10:18:36 AM(UTC)
John S

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I'm not sure I understand what you mean...but if you have MetaStock EOD with DataLink, then you will see a series of custom indicators that begin with "BM...". These are the breadth indicators. Among these are Advance/Decline.
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oem7110  
#5 Posted : Tuesday, October 22, 2013 2:50:29 PM(UTC)
oem7110

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Do those breadth indicators come with Metastock Pro under Indicator quicklists? I cannot find any since I still using version 8.0 (old version). Do you know what formula is using to determine Advance-Decline Line for Metastock?

Do you have any suggestions?

Thank you very much for any suggestions :>
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MS Support  
#6 Posted : Tuesday, October 22, 2013 3:59:40 PM(UTC)
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The indicators were introduced after version 8 and were initially designed for Reuters DataLink. QuoteCenter (previous real-time feed) also had these but they do not currently exist in any current version of MS Pro.

The formulas essentially Cumulate the Advances and the Declines using the Security data function:

Cum(Security("Online:X.NYSE-A",C))-Cum(Security("Online:X.NYSE-D",C))

I believe the Security function existed in MetaStock Pro 8.

eSignal I believe already has a symbol for Advancing issues minus declining issues: $ADD so you could probably use Cum(Security("Online:$ADD",C))

I believe they also have symbols $ADV and $DECL which you could substitute into the first example.
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oem7110  
#7 Posted : Tuesday, October 22, 2013 8:12:12 PM(UTC)
oem7110

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I find it, and would like to know how to use it in general.

Does anyone have any suggestions?

Thanks, to everyone very much for any suggestions :>
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digiams  
#8 Posted : Thursday, December 5, 2013 1:43:50 AM(UTC)
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Hi,
Lets suppose 6 stocks 'ABB',ACC,'BEL','BHEL','BPCL','ITC' form an index.

Advance-Decline Lines can be plotted as below:
{
Adv:= If(Security("ABB",C) > Ref(Security("ABB",C),-1),1,0) +
If(Security("ACC",C) > Ref(Security("ACC",C),-1),1,0) +
If(Security("BEL",C) > Ref(Security("BEL",C),-1),1,0) +
If(Security("BHEL",C) > Ref(Security("BHEL",C),-1),1,0) +
If(Security("BPCL",C) > Ref(Security("BPCL",C),-1),1,0) +
If(Security("ITC",C) > Ref(Security("ITC",C),-1),1,0);

Dec:= If(Security("ABB",C) < Ref(Security("ABB",C),-1),1,0) +
If(Security("ACC",C) < Ref(Security("ACC",C),-1),1,0) +
If(Security("BEL",C) < Ref(Security("BEL",C),-1),1,0) +
If(Security("BHEL",C) < Ref(Security("BHEL",C),-1),1,0) +
If(Security("BPCL",C) < Ref(Security("BPCL",C),-1),1,0) +
If(Security("ITC",C) < Ref(Security("ITC",C),-1),1,0);

Adv;
Dec
}

I hope the above content is useful for understanding.

Regards,
sdg
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oem7110  
#9 Posted : Thursday, December 5, 2013 2:46:59 AM(UTC)
oem7110

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Thanks, to everyone very much for suggestions :>
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John S  
#10 Posted : Thursday, December 5, 2013 10:34:55 AM(UTC)
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The newly released (Nov 19th) MetaStock and MetaStock Pro 13.0 includes "breadth" indicators not only calced on the overall market (as is done traditionally), but also breadth on the 10 major US Sectors. the Advance/Decline line is one of many included. Sector level breadth analysis is very unique and powerful in my opinion. I know of no other tool that provides for this level of breadth analysis.

Here's an FAQ page that gives some details on this: https://www.metastock.com/Customer/Support/KB/?fc=393
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