An asset is said to have advanced over a certain time period if the closing price is higher than the opening price for that period. On the other hand, an asset has declined when the close is lower than the open for that time period.
The Advance Decline Index (ADI) is calculated as the daily advances – daily declines + PIV, where PIV stand for prior index value. The ADI can be seen as the running sum of the difference between daily advances and daily declines.
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