The formulas and steps necessary to do the New Advance -Decline Line from the September 1994 Technical Analysis of Stocks & Commodities, page 14 by Daniel Downing are: Taken from Stocks & Commodities, V. 12:9 (363-365): A New Advance-Decline Line by Daniel E. Downing "Here's a trading tool that uses a unique version of the daily advance-decline line of the New York Stock Exchange (NYSE). This version helps in our short- and long-term trading of index options and stock index futures. It gives many good short-term trading signals and excellent but infrequent longer-term signals... The philosophy behind this tool is that the short-term trader's capital is finite and that traders have to reliquify their holdings after a period. Traders can buy and try to push the equities higher only so many times before they need to reliquify, just as only a finite amount of selling waves can take place before the sellers are out of supplies. A tool that points to when short-term traders need to reliquify their positions will also spot when the markets will soon reverse their trends." * Load the advances * Load the declines * Drag the plot of the advances into the chart of the declines * Plot the following custom formula directly on the plot of advances. Cum( If( P ,>= ,1000 ,If(C ,< ,1000 , + 1 ,0 ) ,If( C ,>= ,1000 ,-1 ,0 ) ) )