I recently switched to nt7 and I've slowly recreated those screens I wanted to duplicate from my previous platform.
One thing I'm missing is the AD line. I don't see anything in the native nt indicators or on bmt site.
I know this sounds dead simple, but can someone help me on how to plot an advance decline line?
I do not know, what you really look for. If you can post a chart, this would help.
I have played around a little. Kinetick EOD offers daily data for the Advance-Decline line. They symbol is ^ADD. If you want to cumulate that data, you just need to code a little indicator, which loads data from ADD and cumulates it.
The charts below show the result of a quick and dirty implementation. Is that what you look for, or do you need intraday data?
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Yes Fat tails, that's it. I was mainly looking to use it on a daily basis. I have iqfeed which provides ^ADD as well.
I couldn't find similar code to use as an example (I'm clearly not a programmer), but my bigger issue seems to be nt7 direct edition only allows importing indicators and not access to the editor/compiler.
Would you be so kind to export your implementation? Certainly others in the silent majority will appreciate it as well.
There is also the McClennan Oscillator which is recognized by technical analysts as the standard for measuring acceleration in the stock market. Using advance-decline statistics, it gives overbought and oversold indications, divergences, and measurements of the power of a move. *Must be $ADD enabled for the indicator to work.
5th panel - $ADD
6th panel - Mclennan Oscillator
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I have warned you that the indicator attached is a quick and dirty version, so let me explain the risks associated:
(1) The indicator loads daily data for ^ADD, so you need a provider who supplies daily data for this instrument.
(2) The NinjaTrader architecture for loading daily data is seriously flawed, as the daily bars are not inserted properly as expected. To avoid any conflict, you need to use the same session template for ^ADD and the primary instrument of your chart. As ^ADD is loaded by the indicator, it will automatically use the session template as specified under instrument settings.
(3) The calculation of the cumulated values is started with the first bar of your chart. The absolute values that you will see can therefore differ from day to day, if you use charts with a fixed lookback period.
(4) The indicator will not work on intraday data, as it only loads daily bars.
The problems (1), (2) and (3) can be overcome by loading daily data asynchronously. Further the indicator can be enhanced to work on intraday data.
I simply do not have the time to code the advancedstuff, so I just attach the "poor man's version" for daily charts.
Don't tell anybody that it was me, who has coded this indicator.
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