4% Advance & Decline script

TradingView Script

In the series of market breadth indicators, now presenting 4% Advance & Decline script for TradingView.

Interpretation

The script calculates advances as the daily percentage change ≥ 4% divided by the total number of stocks.

Declines are calculated as the daily percentage change < -4% divided by the total number of stocks.

Net breadth is simply calculated by subtracting the declines from the advances. (4% up - 4% down).

Features

• Dark Mode

• Display only the net breadth

• Expanded mode table for the past week

• Plot 'comfort' levels' of +/- 10

Screenshots of the 4% Advance & Decline script

---

Link

Here is the link to the 4% Advance & Decline for Tradingview:

---

Dependency

The script uses the Pine Seeds service to import custom data hosted in a GitHub repository and accesses it via TradingView as the frontend. So, the number of bars appearing on charts is fully dependent on the amount of historical data available. Any error or omission, if there, is a reflection of the hosted data, & not that of Tradingview.

Limitations

Such data has some limitations, like it can only be updated at EOD (End-of-Day), & only daily-based timeframes can be applied to such data. Irrespective of the intraday changes, only the last saved value on the chart is seen. So, it's best to use this script as EOD, rather than intraday. At the time of publication of this script, 375 days of historical data was available.

---

Credits

This script uses the NSE Market Breadth data from @swing_ka_sultan via a pine seed from @TheLogicalSwing. Hats off to these amazing individuals, without whose efforts, such scripts wouldn't have seen the light of this day!