Note: This documentation applies to the Nuvexlens Advanced Charting System. Nuvexlens fully supports technical indicators and strategy backtesting to help you make smarter trading decisions.
Advance/Decline Ratio (Bars)
Definition
The bars-based advance/decline ratio indicator shows the number of bars that closed higher compared to the number of bars that closed lower for the current symbol and the specified length. The indicator calculates the number of green and red bars for the last several bars and divides the first number by the second. The ratio can be used to analyze the historical performance of the current symbol in the specified window: higher values mean the prices consistently traded up and vice versa.
Inputs
Length
The number of bars analyzed: e.g. if the window is 9, the indicator counts the number of green and red bars for the last 9 bars and divides one by another.