EGX30 Advance/Decline Line

11 giờ trước

📈 EGX30 Advance/Decline Line Indicator: Overview and Usage

The EGX30 Advance/Decline Line indicator is a comprehensive tool designed to analyze the market breadth and sentiment of the EGX30 index by aggregating and visualizing statistics from its 29 component stocks. It goes beyond simple price action to provide deeper insights into the underlying strength or weakness of the index's movers.

This script allows users to select from five primary metrics and includes advanced features like automatic parameter configuration based on the chart's timeframe and a detailed information table summarizing the day's market activity.

Key Features and Available Metrics

You can select one of the following primary metrics from the 'Select Metric' dropdown menu:

1. Advance/Decline Line (A/D Line):

Plots the cumulative total of Net Advances (Advancing Issues - Declining Issues).

It is used to confirm the index's trend or warn of divergences, where the index is rising but the A/D line is falling (suggesting fewer stocks are participating in the rally).

Includes a Zero Line and a configurable Simple Moving Average (SMA).

2. McClellan Oscillator (MCC):

A breadth oscillator based on the difference between two Exponential Moving Averages (EMAs) of the Advance/Decline Ratio.

It measures the speed and direction of market breadth momentum.

Includes a Buy Climax (0.1) and Sell Climax (-0.1) dotted lines to identify overbought/oversold conditions.

3. Arms Index (TRIN - TRading INdex):

A volume-based oscillator that compares the ratio of Advancing Issues/Declining Issues to the ratio of Advancing Volume/Declining Volume.

A reading above 1.0 (Neutral Level) suggests selling pressure (Declining Volume is relatively high), while a reading below 1.0 suggests buying pressure (Advancing Volume is relatively high).

Includes a Neutral Level (1.0) and Upper/Lower Bands based on Standard Deviation to identify Overbought/Oversold extremes.

4. Total Volume:

Plots the aggregated total volume for all 29 EGX30 component stocks.

Includes a SMA for trend comparison.

5. Total Liquidity:

Plots the aggregated total traded value (Price * Volume) for all 29 component stocks.

A measure of overall capital movement in the index components.

Includes a SMA for trend comparison.

⚙️ Configuration Settings

The indicator includes two primary configuration groups:
Timeframe Configuration

▶️ Enable Automatic Timeframe Configuration: When enabled (default), the script automatically optimizes the lookback lengths for the Moving Averages (MA), McClellan Oscillator, and TRIN based on whether the chart is set to an Intraday, Daily, or Weekly timeframe.

⚙️ Manual Overrides: Disable the automatic configuration to manually set the lengths for MA Length, McClellan Fast EMA, McClellan Slow EMA, and TRIN Lookback.

Table Settings

The indicator displays a table in the top-right corner summarizing key market breadth statistics.

Number of Top Contributors: Sets the number of top stocks (up to 29) to display in the table.

Show Top Contributors (Performance): Shows the stocks with the largest absolute index-weighted contribution to the EGX30's movement.

Show Top Contributors (Volume): Shows the stocks with the highest traded value (liquidity), displayed as a percentage of the total traded value.

The table also provides a persistent summary of:

Advancing, Declining, and Unchanged Issues.

Net Advancements (unless TRIN is selected).

Net Volume % and Net Liquidity %.

Mode-specific statistics like Total Volume/Liquidity or Advancing/Declining Volume.

11 giờ trước

Phát hành các Ghi chú

📈 EGX30 Advance/Decline Line Indicator: Overview and Usage

The EGX30 Advance/Decline Line indicator is a comprehensive tool designed to analyze the market breadth and sentiment of the EGX30 index by aggregating and visualizing statistics from its component stocks. It goes beyond simple price action to provide deeper insights into the underlying strength or weakness of the index's movers.

This script allows users to select from five primary metrics and includes advanced features like automatic parameter configuration based on the chart's timeframe and a detailed information table summarizing the day's market activity.

Key Features and Available Metrics

You can select one of the following primary metrics from the 'Select Metric' dropdown menu:

1. Advance/Decline Line (A/D Line):

Plots the cumulative total of Net Advances (Advancing Issues - Declining Issues).

It is used to confirm the index's trend or warn of divergences, where the index is rising but the A/D line is falling (suggesting fewer stocks are participating in the rally).

Includes a Zero Line and a configurable Simple Moving Average (SMA).

2. McClellan Oscillator (MCC):

A breadth oscillator based on the difference between two Exponential Moving Averages (EMAs) of the Advance/Decline Ratio.

It measures the speed and direction of market breadth momentum.

Includes a Buy Climax (0.1) and Sell Climax (-0.1) dotted lines to identify overbought/oversold conditions.

3. Arms Index (TRIN - TRading INdex):

A volume-based oscillator that compares the ratio of Advancing Issues/Declining Issues to the ratio of Advancing Volume/Declining Volume.

A reading above 1.0 (Neutral Level) suggests selling pressure (Declining Volume is relatively high), while a reading below 1.0 suggests buying pressure (Advancing Volume is relatively high).

Includes a Neutral Level (1.0) and Upper/Lower Bands based on Standard Deviation to identify Overbought/Oversold extremes.

4. Total Volume:

Plots the aggregated total volume for all EGX30 component stocks.

Includes a SMA for trend comparison.

5. Total Liquidity:

Plots the aggregated total traded value (Price * Volume) for all component stocks.

A measure of overall capital movement in the index components.

Includes a SMA for trend comparison.

⚙️ Configuration Settings

The indicator includes two primary configuration groups:
Timeframe Configuration

▶️ Enable Automatic Timeframe Configuration: When enabled (default), the script automatically optimizes the lookback lengths for the Moving Averages (MA), McClellan Oscillator, and TRIN based on whether the chart is set to an Intraday, Daily, or Weekly timeframe.

⚙️ Manual Overrides: Disable the automatic configuration to manually set the lengths for MA Length, McClellan Fast EMA, McClellan Slow EMA, and TRIN Lookback.

Table Settings

The indicator displays a table in the top-right corner summarizing key market breadth statistics.

Number of Top Contributors: Sets the number of top stocks (up to ) to display in the table.

Show Top Contributors (Performance): Shows the stocks with the largest absolute index-weighted contribution to the EGX30's movement.

Show Top Contributors (Volume): Shows the stocks with the highest traded value (liquidity), displayed as a percentage of the total traded value.

The table also provides a persistent summary of:

Advancing, Declining, and Unchanged Issues.

Net Advancements (unless TRIN is selected).

Net Volume % and Net Liquidity %.

Mode-specific statistics like Total Volume/Liquidity or Advancing/Declining Volume.