My market signal, based on the difference between XAO and its Advance-Decline line is still bearish.
Here's the Amibroker code for it.
T = Param("Wilders Smoothing Period",21,3,180,1);
SF = Param("Scaling Factor",24.5,10,33,0.5);
X = (Foreign("AD_AORD", "Close") - Foreign("AD_AORD", "Open")) / SF;
A = Foreign("^AORD", "Close");
Y = (A - Ref(A,-1)) / Ref(A,-1) * 100; // (The close today - The close yesterday) as %
MS = Wilders(X - Y, T);
Plot(MS,"Market Signal",IIf(MS > 0,5,4));
Plot(0,"",colorYellow,styleDots);
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