ADD 2

٣٠ مارس ٢٠٢٣

This is a modification to the original ADD script by Tom1trader

tradingview.com/v/gjR35HwQ/

I added the option to choose the timeframe, moving average type and length.

Note from the original script:

"This is the NYSE Advancers - decliners which the SPX pretty much follows. You can chart it like any index (ADD -NYSE AADV MINUS DDECL) but I find it more useful in a separate panel with colors for direction.

The level gives an idea of days move (example: plus or minus 500 is not much movement through the session) but I follow the direction as when more stocks advance (green) or decline (red) the index tends to track it pretty closely.

On SPX , SPY and correlates - very useful for intra-day trading (Scalping or 0DTE option trades) but not for higher time frames at all. If you chart the ADD in a chart and compare 5 minute to daily you will see what I mean."