Advance/Decline Volume Line
The Advance/Decline Volume Line is a cumulative market breadth indicator that is similar to the Advance/Decline Line but instead of subtracting the number of declining stocks from the number of advancing stocks, it subtracts the volume of declining stocks from the volume of advancing stocks. The indicator cumulates these differences, called net advancing volume, by adding them to the previous indicator value, effectively calculating a running total. It can be used to confirm the strength of a trend. A rising Advance/Decline Volume Line points to buying pressure and vice versa. Traders may look for divergence to spot potential trend reversals. The indicator is best used in combination with other analysis techniques.
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