Mini Advance Decline

The biggest thing I don't like about the NYSE ADV - Advancing Issues is that it tracks from the prior day's close. I can see the Gap in prices and I don't need a "false indication" that is generated by the gap. I want to know what the stocks are doing for me today. Also since stocks have a staggered opening, it takes some time for the ADV to "build up steam" and become useful off the opening. I find this is often 15 - 20 minutes.

For fun I took Dr. Brett's stocks used in his Relative Dollar Volume Flow and made my own Mini-ADV. I trying out an indication of Up or down from the Open.

How Does it Work

I need to do more research, but I find it interesting so far. Notice the high in the ES Futures at 9:45 CT. The Mini ADV is the blue line at the bottom of the chart. It was working its way lower. Time will tell.

Remember

This is not a new "magical indicator" to pick trades. This is just a potential filter tool.

Trade Wise, Trade Well
John