Indicator AD (Advances/Declines) developed by Sherman and Marian McClellan and based on indicator RANA.
It shows two components of indicator RANA - the positive and negative increments of the prices of instruments available in the Market Watch and including the specified currency.
It has one input parameter:
- Base currency - name of the base currency of symbols in the Market Watch for calculating the RANA.
Up = Up(RANA) Dn = Dn(RANA)
RANA = (Up - Dn)/(Up + Dn)
- Up - number of bullish candlesticks on all symbols;
- Dn - number of bearish candlesticks for all symbols.
It should be noted that, at the first launch or at switching the timeframe, the indicator will need some time to download the necessary history for all the symbols required.
Indicator RANA is not required for operation - it is calculated by the indicator independently.