Breadth Advance/Decline

Designed by Martin Zweig, the Breadth Advance/Decline, is a measure of the dominance of advancing issues in the market. In theory a market that is dominated by advancing issues will have bullish tendency in the future as compared to one dominated by declining issues. Opinions amongst experts are varied as to what measure the indicator must have to indicate a bearish or bullish market. These range from above 0.55 to 0.67 to indicate a bullish market to below 0.45 to 0.37 to indicate abearish market.

Syntax:

BreadthAdvanceDecline
BreadthAdvanceDecline()
BreadthAdvanceDecline(“Period”)
BreadthAdvanceDecline(“OutPutStartCell”,”Period”)

Inputs:

'Open' and 'High' columns values

Parameters:

• Period (default=14)
• OutPutStartCell (default=the next blank column in the worksheet)

Examples:

BreadthAdvanceDecline
BreadthAdvanceDecline()
BreadthAdvanceDecline(“14”)
BreadthAdvanceDecline(14)
BreadthAdvanceDecline(“G2”, “14”)
BreadthAdvanceDecline(G2, 14)