The advancing issues and declining issues line (AD line) is a technical indicator that can be used to indicate market sentiment. An AD Line indicator shows the difference between the number of advancing and declining stocks on a daily basis (depending on the symbols used). It could be used with S&P 500 advancing issues and declining issues data, symbols: $ADVSP and $DECLSP, for example.
The value plotted is cumulative, with today's value added or subtracted from the cumulative value the previous day.
Tutorial 152 is a TradeStation EasyLanguage tutorial that calculates the cumulative value of the difference between two data streams plotted on a daily chart AND the same (or close) values on minute interval charts.
A similar calculation is done by the TradeStation AdvanceDeclineDiff function. The difference can be plotted on a daily chart using a simple program.
This works perfectly on a daily chart but if this program is applied to a minute based chart the results will be different because each bar on the minute chart shows a ‘snap shot’ of the advancing issues and declining issues data for that bar. In terms of the AD line, to match the daily data, the only relevant bar is the last bar of the day.
This tutorial demonstrates how to add a plot of the difference between advancing and declining issues on a minute based chart.
See https://markplex.com/free-tutorials/tutorial-152-creating-an-advancing-declining-issues-indicator-for-a-minute-chart/
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