Chart Advance Decline

The Advance-Decline chart can be accessed from any Telemet Orion screen.  Simply select Charts > Advance-Decline Line from the Display menu.

The Advance-Decline Line is a cumulative market breadth indicator. The Telemet Orion symbol for the indicator in ADVDCL-I.   It can be compared to a general Market Index or any Issue

The index is calculated by taking the difference between the number of advancing issues and number of declining issues and adding that difference to the previous day’s running total. Daily New York Stock Exchange data is used in the calculation.

Interpretation of the Advance-Decline Line is commonly performed as follows: 

Market Index	Advance-Decline Line	Interpretation
Rising	Falling	Bearish
Near or at previous top	Significantly below corresponding top	Bearish
Near or at previous top	Significantly above corresponding top	Bullish
Falling	Rising	Bullish
Near or at previous bottom	Significantly above previous bottom	Bullish
Near or at previous bottom	Significantly below previous bottom	Bearish