[Soultrader]

Alot of day traders are now watching the same market internal tools: ex. TICK, TRIN, TIKI, PREM, PC Ratio. I figured why not bring the old school back? I know the Advance/decline issues was a common tool used back in the days. I am sure alot of traders still use this.

I have decided to look into the NYSE Advancing Issues internal tool. (Ticker Symbol: $ADV) The reason why is because of the simplicity of it. If price if lifting we like to see more stocks advancing as well. If price lifts while stocks decline, this is a warning signal. The ADV tool gives off pure information in my opinion. If you have further insights on this tool please share it with us.

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Charts created by tradestation

[keymoo]

Have you looked at plotting the adv/decl ratio line? Very similar to adv, but plots it as a ratio. Any time the value goes above 1.0 we have more advancers than decliners, and vice versa. Might be good for you to look at also. You can set it up in TS quite easily. Let me know if you want me to show you how. I have the adv/decl ratio in my TS workspace.

[Soultrader]

Ive never really look at it. Im sure I can get it to set up on my TS... the question is do you find it useful? How do you build a strategy around it? If you have any insights please let me know

[walterw]

Soul : I like this thread, would like to work on this too...¡¡ I think its true the fact that we have a much more simple to read internal tool there... and should remind that it is one component that forms part of the trin formula... so looking at a simplier version of trin data... would like to look deep into its possible intelligent aplications.... nice video Soul cheers Walter.

[Soultrader]

Originally Posted by walterw »

Soul : I like this thread, would like to work on this too...¡¡ I think its true the fact that we have a much more simple to read internal tool there... and should remind that it is one component that forms part of the trin formula... so looking at a simplier version of trin data... would like to look deep into its possible intelligent aplications.... nice video Soul cheers Walter.

Very good point Walter. That never crossed my mind. I will be posting more insights on this one.

[walterw]

Soul: you already know I am a very small time frame trader, almost scalper... you would like to take a look, (just experimenting at this point)(inspired on this all new thread) at a 4 tick chart of $adv.... and put in to it a TTM trend paint bar... and some averages... must confess it looks cool...

[Soultrader]

woah! what exactly did you do? The 4 tick chart $ADV is plotted directly on the TTM.. so you are using it like a super fast moving average? How many bars do you set your TTM to?

I noticed that indicators can not be overlayed on a tick chart. I am very curious if the $ADV can be plotted as a line of close chart directly on a tick chart without the scaling. (just experimenting)

[walterw]

well, I created a 4 tick chart of $adv and inserted a (default setting) ttm paintbar to it, the averages are custom mine, can share formula if interested.... thats it, I find that it can be a powerfull timing tool... cheers Walter.