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Advance/Decline (AD) Volume
(Indicators based on the "advances" and "declines" concept)
Description: Advance/Decline technical analysis, volume S&P 500 chart, momentum technical indicator, chart, analysis, S&P 500 index, intraday charts, advances and declines.
A few quotes below are taken from the "Advance/Decline Volume" article which could be found on MarketVolume's website in the tutorial dedicated to technical analysis based on the advance/decline data.
"...Declines volume is the running total (cumulative sum) of the
number of shares traded for all those securities that belong to the declines
group for a given time period...For the definition of advances volume, simply adapt the above
explanation...
...Volume is not only a measurement of stock market
breadth, it also serves as an indicator of stock market strength... Advances and declines volume can be analyzed using daily
charts (i.e., one bar represents the trading activity of an entire day) or with
intraday charts (one bar reflects the activity of 1, 5, 15, 30, or 60 minutes)...
"
Chart 1. S&P 500 5-day intraday (one bar = 15 min)
Cumulative Advances and Declines Volume (Cumulative AD Volume)
"...you may have noticed that both the advances and the declines volume tend to increase as the trading day progresses... We have developed a new intraday indicator (never before made available), which we call 'momentum advances and declines volume' ..."
Chart 2.S&P 500 5-day intraday (one bar = 15 min)
Advances and Declines Momentum Volume (Momentum AD Volume)
"...Momentum AD volume shows the actual number of shares that
traded in the advances and declines volume segments (for a given bar)...
Momentum AD volume readings are not affected by the volume
activities of previous bars...
The main difference between momentum AD volume and cumulative
AD volume is that momentum AD volume readings are not cumulative; they simply
reflect the volume activity associated with a particular bar."
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Copyright 2004 Highlight Investments Group. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Tags: indicator , technical analysis, volume, chart, S&P 500, decline, Advance
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