# Custom Formula Collection

New Advance Decline Line

The formulas and steps necessary to do the New Advance -Decline Line from the September 1994 *Technical Analysis of Stocks &Commodities*, page 14 by Daniel Downing are:

Taken from *Stocks &Commodities*, V. 12:9 (363-365): A New Advance-Decline Line by Daniel E. Downing

"Here's a trading tool that uses a unique version of the daily advance-decline line of the New York Stock Exchange (NYSE). This version helps in our short- and long-term trading of index options and stock index futures. It gives many good short-term trading signals and excellent but infrequent longer-term signals...

The philosophy behind this tool is that the short-term trader's capital is finite and that traders have to reliquify their holdings after a period. Traders can buy and try to push the equities higher only so many times before they need to reliquify, just as only a finite amount of selling waves can take place before the sellers are out of supplies. A tool that points to when short-term traders need to reliquify their positions will also spot when the markets will soon reverse their trends."

**For the Windows versions of MetaStock:**

- Load the advances

- Load the declines

- Drag the plot of the advances into the chart of the declines

- Plot the following custom formula directly on the plot of advances.

Cum( If( P ,>= ,1000 ,If(C ,<

,1000 , + 1 ,0 ) ,If( C ,>= ,1000 ,-1 ,0 ) ) )

**For the DOS versions of MetaStock:**

- Load the advances

- Plot the formula C

- Press Ctrl + B and Save to the buffer.

- Load declines

- Press Ctrl + B and Restore the buffer.

- Plot the custom formula:

Cum( If( P ,>= ,1000 ,If(C ,<

,1000 , + 1 ,0 ) ,If( C ,>= ,1000 ,-1 ,0 ) ) )

For additional help with formulas, please see the Formula Primer.

Can't find the custom formula you need? MetaStock can create formulas for you.

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